Nakamoto, Yasuhiro (2015): Heterogeneous EIS and Wealth Distribution in a Neoclassical Growth Model.

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Abstract
We introduce the heterogeneities of EIS (elasticities of intertemporal substitution) into the Ramsey version of macrodynamic model with a finite number of agents. The assumption that the degrees of EIS differ among agents means that our economy has various growth rate of private consumption. Then, our contributions are as follows. First, we analytically characterize the steadystate levels of individual capital. Second, we analytically examine the role of heterogeneous EIS for the wealth inequality. Finally, we give numerical examples to see the complicated dynamic motion and the steadystate characterization of wealth inequality.
Item Type:  MPRA Paper 

Original Title:  Heterogeneous EIS and Wealth Distribution in a Neoclassical Growth Model 
Language:  English 
Keywords:  Heterogeneous agents, Elasticity of intertemporal substitution, Convergence speed, Wealth distribution 
Subjects:  C  Mathematical and Quantitative Methods > C0  General > C00  General E  Macroeconomics and Monetary Economics > E1  General Aggregative Models > E13  Neoclassical E  Macroeconomics and Monetary Economics > E2  Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E20  General 
Item ID:  67026 
Depositing User:  Yasuhiro Nakamoto 
Date Deposited:  08. Oct 2015 13:42 
Last Modified:  08. Oct 2015 14:28 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/67026 