THE DISTRIBUTION OF WEALTH IN THE BLANCHARD–YAARI MODEL

2014 ◽  
Vol 20 (2) ◽  
pp. 466-481 ◽  
Author(s):  
Jess Benhabib ◽  
Alberto Bisin ◽  
Shenghao Zhu
Keyword(s):  
Fiscal Policy ◽  
Intergenerational Transmission ◽  
Wealth Distribution ◽  
Wealth Accumulation ◽  
Investment Risk ◽  
Distribution Of Wealth

We study the dynamics of the distribution of wealth in an economy with infinitely lived agents, intergenerational transmission of wealth, and redistributive fiscal policy. We show that wealth accumulation with idiosyncratic investment risk and uncertain lifetimes can generate a double Pareto wealth distribution.

scholarly journals KONSEP FISKAL ISLAM DALAM PERSPEKTIF HISTORIS

2016 ◽  
Vol 4 (1) ◽  
pp. 33
Author(s):  
Ali Murtadho
Keyword(s):  
Fiscal Policy ◽  
Budget Deficit ◽  
Free Market ◽  
Wealth Distribution ◽  
Market Mechanism ◽  
Distribution Of Wealth ◽  
Fiscal Revenue ◽  
Fair Distribution ◽  
Islamic Economic ◽  
Practical Representation

<p><em>Fiscal policy is not synonymous with Islam taxation / tribute that made the king / emperor , nor synonymous with modern fiscal policy born of the failure of the free market mechanism. Referring to public finance policy at the beginning of the Islamic era, Islamic fiscal policy is a practical representation of the mission of the Islamic economic system oriented religiosity , justice and wealth distribution.</em></p><em>Not only deal with the fiscal revenue and expenditure of state revenue but also about the mission of fair distribution of wealth . Jizya, kharaj and ghanimah is a fiscal instrument in accordance with the circumstances at that time for the mission fair distribution of wealth . Based on the concept of fiscal Islam , then the application of fiscal policy now must somehow form could lead to a fair distribution of wealth towards a comprehensive community welfare ( falah ), not just the budget deficit </em>

Non-Maxwellian kinetic equations modeling the dynamics of wealth distribution

2020 ◽  
Vol 30 (04) ◽  
pp. 685-725 ◽  
Author(s):  
Giulia Furioli ◽  
Ada Pulvirenti ◽  
Elide Terraneo ◽  
Giuseppe Toscani
Keyword(s):  
Steady State ◽  
Wealth Distribution ◽  
Kinetic Equations ◽  
Planck Equation ◽  
Logarithmic Sobolev Inequality ◽  
One Dimensional ◽  
Distribution Of Wealth ◽  
Multi Agent ◽  
Fokker Planck Equations ◽  
Fokker Planck

We introduce a class of new one-dimensional linear Fokker–Planck-type equations describing the dynamics of the distribution of wealth in a multi-agent society. The equations are obtained, via a standard limiting procedure, by introducing an economically relevant variant to the kinetic model introduced in 2005 by Cordier, Pareschi and Toscani according to previous studies by Bouchaud and Mézard. The steady state of wealth predicted by these new Fokker–Planck equations remains unchanged with respect to the steady state of the original Fokker–Planck equation. However, unlike the original equation, it is proven by a new logarithmic Sobolev inequality with weight and classical entropy methods that the solution converges exponentially fast to equilibrium.

Egalitarianism, Inequality, and Age: The Rural North in 1860

1981 ◽  
Vol 41 (1) ◽  
pp. 85-93 ◽  
Author(s):  
Jeremy Atack ◽  
Fred Bateman
Keyword(s):  
Life Cycle ◽  
Civil War ◽  
Age Structure ◽  
Wealth Distribution ◽  
Distribution Of Wealth ◽  
Egalitarian Society ◽  
Heads Of Household ◽  
Life Cycle Pattern

Little is known about the distribution of wealth in the allegedly egalitarian society of the rural North on the eve of the Civil War. This paper investigates the role of the age structure of the heads of household and a life-cycle pattern of accumulation in determining the wealth distribution within that society and among the various groups that comprised it. The results suggest a need for caution in making cross-group or inter-temporal comparisons in wealth distributions without taking account of such factors.

scholarly journals Brotherhood dalam Dimensi Sistem Ekonomi Islam

2017 ◽  
Vol 11 (2) ◽  
pp. 499
Author(s):  
Fahrur Ulum
Keyword(s):  
Economic System ◽  
Wealth Distribution ◽  
Economic Activities ◽  
Distribution Of Wealth ◽  
Economic Man ◽  
Market Economic ◽  
Islamic Economic ◽  
Set Up

This article discusses the issue of brotherhood in Islamic economic system. The goal of Islamic economics is to create advantages (falâh}) for all economic man. To achieve this goal, Muslim economists have agreed to set up the philosophical pillars of Islamic economic system which consists of tawhîd, ‘ibâdah, khilâfah, and ukhuwwah. One of the important challenges to deal with is how to place the idea of brotherhood as a pillar of Islamic economic system that is applicable in economic activities which then lead to equal advantages. Muslim economists argue that Islamic economic system has led economic man to possess altruistic personality. This is not only related to the problem of consumption but also to that of production. In addition, the distribution of wealth specific in Islamic economic system has resulted in brotherhood. The spirit of brotherhood has inspired the effort of distributing wealth economically and non-economically towards shared advantages. Specific wealth distribution in Islamic economics is by placing human as economic being and social being alike. Therefore, brotherhood is implemented in market and non-market economic activities. The implementation of brotherhood is not only in the form of cooperative but more than that is to be oriented to efforts of empowering economic man.

scholarly journals Nonlocal Reaction-Diffusion Models of Heterogeneous Wealth Distribution

2020 ◽  
Author(s):  
Malay Banerjee ◽  
Sergei V. Petrovskii ◽  
Vitaly Volpert
Keyword(s):  
Population Distribution ◽  
Wealth Distribution ◽  
Reaction Diffusion ◽  
Local Economy ◽  
Space Distribution ◽  
Homogeneous Distribution ◽  
Wealth Accumulation ◽  
Human Populations ◽  
Demographic Model ◽  
Nonlocal Reaction

Dynamics of human populations can be affected by various socio-economic factors through their influence on the natality and mortality rates, and on the migration intensity and directions. In this work we study an economic-demographic model which takes into account the dependence of the wealth production rate on the available resources. In the case of nonlocal consumption of resources the homogeneous in space wealth-population distribution is replaced by a periodic in space distribution for which the total wealth increases. For the global consumption of resources, if the wealth redistribution is small enough, then the homogeneous distribution is replaced by a heterogeneous one with a single wealth accumulation center. Thus, economic and demographic characteristics of nonlocal and global economies can be quite different in comparison with the local economy.

scholarly journals Religious Beliefs And Wealth Accumulation

2012 ◽  
Vol 10 (7) ◽  
pp. 407
Author(s):  
E. Anne York ◽  
Marilyn Dutton
Keyword(s):  
Quantile Regression ◽  
Religious Belief ◽  
Wealth Distribution ◽  
Household Wealth ◽  
Wealth Accumulation ◽  
Font Size ◽  
Net Worth ◽  
The Bible ◽  
Precise Measure ◽  
The Relationship

<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none;" class="MsoNormal"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">One of the more interesting findings in the research on household wealth is the relationship between religion and wealth accumulation. In contrast to previous studies that use denominational affiliation, we use a more precise measure of religious belief constructed from responses to survey questions regarding interpretation of the Bible.<span style="mso-spacerun: yes;"> </span>Regression results indicate that households with more literalist Biblical beliefs have lower net worth overall.<span style="mso-spacerun: yes;"> </span>Additional analysis using quantile regression reveals that this relationship holds only for the upper half of the wealth distribution.<span style="mso-spacerun: yes;"> </span>There is no relationship at lower levels of wealth.<span style="mso-spacerun: yes;"> </span>Finally, while more literalist households are less likely to have an investment account or to have ever received an inheritance, they are more likely to own a home and to have a positive net worth.</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>

Distribution of Wealth for Sustainable Happiness

2022 ◽  
pp. 206-212
Author(s):  
Sheakh Reyad Muhammad Noor ◽  
Zobaida Afroz ◽  
Ayesha Akter Mousumi
Keyword(s):  
Wealth Distribution ◽  
Sustainable Growth ◽  
Entire Population ◽  
Impossibility Theorem ◽  
Wealth Maximization ◽  
Distribution Of Wealth ◽  
The World ◽  
Physical Assets ◽  
Sustainable Happiness

The richest one percent of the entire population of the world now owns more than half of the global wealth which shows global wealth is unequally distributed. Moreover, this is assumed that sustainable growth is impossible based on impossibility theorem. Considering the above, the study has been conducted and critically overviewed the wealth distribution of an ancient period based on Islamic rules and practice. Upon study, it has been found that people are very much self-centered and unaware of the broader perspective like searching happiness instead of immediate wealth maximization. The finding has also shown that right of inheritances, relatives, neighbors, society, and state should be defined clearly and need distribution of wealth based on definition. If we become more self-centered, we will find ourselves helpless. Here, wealth means knowledge and physical assets.

A People’s Portfolio of the United States

Divested ◽  
2020 ◽  
pp. 137-156
Author(s):  
Ken-Hou Lin ◽  
Megan Tobias Neely
Keyword(s):  
United States ◽  
Wealth Inequality ◽  
The United States ◽  
Household Wealth ◽  
Wealth Accumulation ◽  
Social Scientists ◽  
Distribution Of Wealth ◽  
Baby Boomer Generation ◽  
Social Class Inequality

This chapter focuses on how finance has transformed household wealth—a trend with long-term implications for how social-class inequality becomes entrenched. It first reviews the uneven distribution of wealth in the United States. Wealth inequality has risen since the last quarter of the 20th century. Today, fewer American families have sufficient means to accumulate wealth over time, and the concentration of capital in the hands of a select few has widened the fault line between the richest and the rest. The chapter also examines how the distribution of wealth has changed across generations—more precisely, what social scientists call “cohorts.” That is, wealth for the baby boomer generation differs greatly from wealth among the millennials. Since wealth accumulation develops over the course of a person’s life, families in young adulthood and near retirement are considered.

Inheritance

1980 ◽  
Vol 12 (3) ◽  
pp. 574-590
Author(s):  
David Stirzaker
Keyword(s):  
Convex Function ◽  
Linear Approximation ◽  
Wealth Distribution ◽  
Upper Bounds ◽  
Limiting Distribution ◽  
Martingale Inequality ◽  
Distribution Of Wealth ◽  
Random Line

We consider a population of reproducing individuals who inherit, earn, consume, and bequeath wealth. A model is constructed to describe the wealth of an individual selected from the nth generation by following a random line of descent from the initial individual. It is shown that bequests are commonly a convex function of wealth. Considering a linear approximation to the bequest function enables us to obtain estimates of the limiting distribution of wealth as the number of generations increases, when earnings of parent and offspring are independent. More generally when earnings of parent and offspring are not independent we obtain upper bounds for the tail of the wealth distribution using a martingale inequality.

Sign in / Sign up

Export Citation Format

Share Document