A note on the cyclical behaviour of the income distribution [E-Book] / Burkhard Heer
Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. To generate this kind of behaviour in a DGE business cycle model, we consider overlapping generations and elastic labour supply in addition to those elements considered by Castañeda et al. (1998). We...
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Full text |
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Personal Name(s): | Heer, Burkhard. |
Imprint: |
Paris :
OECD Publishing,
2013
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Physical Description: |
7 p. |
Note: |
englisch |
DOI: |
10.1787/jbcma-2013-5k483456blbr |
Keywords: |
Economics |
Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. To generate this kind of behaviour in a DGE business cycle model, we consider overlapping generations and elastic labour supply in addition to those elements considered by Castañeda et al. (1998). We also analyse a model with rigid wages. However, these features do not help to constitute a major improvement vis-a-vis their model. JEL classification: C68, D31, E32 Keywords: Income distribution, business cycle, overlapping generations, unemployment, pensions |