Income Mobility, Income Risk, and Welfare
This paper presents a framework for the quantitative analysis of individual income dynamics, mobility, and welfare, with ex ante identical individuals facing a stochastic income process and market incompleteness, implying that they are unable to insure against persistent shocks to income. We show ho...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Published by Oxford University Press on behalf of the World Bank
2020
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/34867 |