| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13224 |
| 来源ID | Working Paper 13224 |
| Sources of Lifetime Inequality | |
| Mark Huggett; Gustavo Ventura; Amir Yaron | |
| 发表日期 | 2007-07-02 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Is lifetime inequality mainly due to differences across people established early in life or to differences in luck experienced over the working lifetime? We answer this question within a model that features idiosyncratic shocks to human capital, estimated directly from data, as well as heterogeneity in ability to learn, initial human capital, and initial wealth -- features which are chosen to match observed properties of earnings dynamics by cohorts. We find that as of age 20, differences in initial conditions account for more of the variation in lifetime utility, lifetime earnings and lifetime wealth than do differences in shocks received over the lifetime. Among initial conditions, variation in initial human capital is substantially more important than variation in learning ability or initial wealth for determining how an agent fares in life. An increase in an agent's human capital affects expected lifetime utility by raising an agent's expected earnings profile, whereas an increase in learning ability affects expected utility by producing a steeper expected earnings profile. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Behavioral Economics ; Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w13224 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570892 |
| 推荐引用方式 GB/T 7714 | Mark Huggett,Gustavo Ventura,Amir Yaron. Sources of Lifetime Inequality. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13224.pdf（276KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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