Interpreting Life-Cycle Inequality Patterns as an Efficient Allocation : Mission Impossible?

The life-cycle patterns of consumption, wage and hours inequality observed in U.S. cross-section data are commonly viewed as incompatible with a Pareto efficient allocation. We determine the extent to which these qualitative and quantitative patterns can or cannot be produced by Pareto efficient allocations in models with preference shocks, wage shocks and full information

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Year of publication:	2014
Authors:	Badel, Alejandro
Other Persons:	Huggett, Mark (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Allokationseffizienz \| Allocative efficiency \| Einkommensverteilung \| Income distribution \| Schätzung \| Estimation \| Overlapping Generations \| Overlapping generations \| Produktlebenszyklus \| Product life cycle \| Präferenztheorie \| Theory of preferences \| Schock \| Shock

Extent:	1 Online-Ressource (35 p)
Series:	Federal Reserve Bank of St. Louis Working Paper ; No. 2010-046C
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 1, 2014 erstellt
Other identifiers:	10.2139/ssrn.1699780 [DOI]
Classification:	E21 - Consumption; Saving ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; D52 - Incomplete Markets
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013069086