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Kazuo Mino
''On the stationary distribution of income and wealth in a growing economy with endogenous labor supply''
( 2023, Vol. 43 No.1 )
In the context of a perpetual youth model with capital, we explore the effect of the labor supply behavior of households on the stationary distributions of income and wealth. Assuming that the households have Greenwood--Hercowitz--Huffman preferences, we show that inequality in income and wealth distributions increase with the elasticity of labor supply.
Keywords: capital accumulation, endogenous labor supply, wealth inequity, Pareto distribution
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
O4 - Economic Growth and Aggregate Productivity: General
Manuscript Received : Oct 23 2022 Manuscript Accepted : Mar 30 2023

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