| Record ID | marc_loc_2016/BooksAll.2016.part33.utf8:74392927:1861 |
| Source | Library of Congress |
| Download Link | /show-records/marc_loc_2016/BooksAll.2016.part33.utf8:74392927:1861?format=raw |
LEADER: 01861cam a22003017a 4500
001 2005618938
003 DLC
005 20130531105856.0
007 cr |||||||||||
008 050927s2005 mnu sb f000 0 eng
010 $a 2005618938
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aYang, Fang.
245 10 $aAccounting for the heterogeneity in retirement wealth$h[electronic resource] /$cFang Yang.
260 $a[Minneapolis, MN] :$bFederal Reserve Bank of Minneapolis, Research Dept.,$c[2005]
490 1 $aWorking paper / Federal Reserve Bank of Minneapolis, Research Dept. ;$v638
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file (viewed on Sept. 27, 2005).
500 $a"September 2005."
530 $aAlso available in print.
520 3 $aThis paper studies a quantitative dynamic general equilibrium life-cycle model where parents and their children are linked by bequests, both voluntary and accidental, and by the transmission of earnings ability. This model is able to match very well the empirical observation that households with similar lifetime incomes hold very different amounts of wealth at retirement. Income heterogeneity and borrowing constraints are essential in generating the variation in retirement wealth among low lifetime income households, while the existence of intergenerational links is crucial in explaining the heterogeneity in retirement wealth among high lifetime income households.
504 $aIncludes bibliographical references.
653 $aWealth inequality;$aIncomplete markets;$aRetirement income
710 2 $aFederal Reserve Bank of Minneapolis.$bResearch Department.
830 0 $aWorking paper (Federal Reserve Bank of Minneapolis : Online) ;$v638.
856 40 $uhttp://minneapolisfed.org/research/wp/wp638.pdf