Skewed Wealth Distributions: Theory and Empirics
这篇综述梳理了财富分布右偏且厚尾的理论机制,并将其与理性消费者的储蓄决策及实证研究联系起来,适合研究财富不平等和宏观经济的学者。
Invariably, across a cross-section of countries and time periods, wealth distributions are skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth shares. In this survey, we categorize the theoretical studies on the distribution of wealth in terms of the underlying economic mechanisms generating skewness and thick tails. Further, we show how these mechanisms can be micro-founded by the consumption–savings decisions of rational agents in specific economic and demographic environments. Finally we map the large empirical work on the wealth distribution to its theoretical underpinnings.