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Expectation heterogeneity and wealth inequality

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Sarıkaya, Furkan (2019) Expectation heterogeneity and wealth inequality. [Thesis]

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Official URL: http://risc01.sabanciuniv.edu/record=b2311536_ (Table of contents)

Abstract

This study examines the effect of expectation heterogeneity on wealth inequality assuming that people with higher income are more optimistic about future returns of their savings, through a modified version of Krusell - Smith heterogeneous agent’s model with uninsured idiosyncratic risk and aggregate uncertainty. Our main finding is that wealth distribution is jointly determined by general equilibrium effect, individual policy functions and income mobility under heterogeneous expectations assumption. As a result, an inverse U-shape relation between wealth inequality and level of expectation heterogeneity is observed

Item Type:Thesis
Uncontrolled Keywords:Wealth inequality. -- Expectation heterogeneity. -- Optimism. -- Pessimism. -- Incomplete markets. -- Heterojen beklentiler. -- Optimizm. -- Pesimizm. -- Servet eşitsizliği. -- Eksik Piyasalar.
Subjects:H Social Sciences > HB Economic Theory
ID Code:39196
Deposited By:IC-Cataloging
Deposited On:17 Sep 2019 15:15
Last Modified:17 Sep 2019 15:15

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