Now showing items 1-7 of 7
Asset Prices in General Equilibrium with Recursive Utility and Illiquidity Induced by Transactions Costs
In this paper, we study the effect of proportional transaction costs on consumption-portfolio decisions and asset prices in a dynamic general equilibrium economy with a financial market that has a single-period bond and ...
Aggregate and Distributional Effects of Increasing Taxes on Top Income Earners
We analyze the macroeconomic implications of increasing the top marginal income tax rate using a dynamic general equilibrium framework with heterogeneous agents and a fiscal structure resembling the actual U.S. tax system. ...
On the Distributive Effects of Inflation
This paper undertakes a quantitative investigation of the effects of anticipated inflation on the distribution of household wealth and welfare. Consumer Finance Data on household financial wealth suggests that about a third ...
The Intended and Unintended Consequences of Financial-Market Regulations: A General Equilibrium Analysis
In a production economy with trade in financial markets motivated by the desire to share labor-income risk and to speculate, we show that speculation increases volatility of asset returns and investment growth, increases ...
The World Inequality Database (WID.world) aims to provide open and convenient access to the most extensive available database on the historical evolution of the world distribution of income and wealth, both within countries ...
U.S. Tax Policy Center (TPC) provides timely, accessible analysis and facts about tax policy to policymakers, journalists, citizens, and researchers.
The Survey of Consumer Finances (SCF) is normally a triennial cross-sectional survey of U.S. families. The survey data include information on families’ balance sheets, pensions, income, and demographic characteristics. ...