Domeij, David (contributor); Heathcote, Jonathan (contributor) - 2003 - [Elektronische Ressource]
agent economy substantial redistribution during transi-
tion means that expected welfare gains vary dramatically across the … representative agent is a very poor proxy for the average welfare
gain.
Keywords: Factor taxation; Redistribution; Heterogeneous … imply substantial redistribution in the short-
run.
5
Second, our calibration strategy is designed to ensure that the amount …