Ventura, Jaume; Caselli, Francesco - In: American Economic Review 90 (2000) 4, pp. 909-926
This paper introduces various sources of consumer heterogeneity in one-sector representative consumer (RC) growth models and develops tools to study the evolution of the distribution of consumptions, assets, and incomes. These tools are applied to the Ramsey-Cass-Koopmans model of optimal...