A STOCHASTIC MODEL OF WEALTH ACCUMULATION WITH CLASS DIVISION

被引：7
作者：
Russo, Alberto [1 ]
机构：
[1] Univ Politecn Marche, Dept Econ & Social Sci, Ancona, Italy
来源：
METROECONOMICA | 2014年 / 65卷 / 01期
关键词：
INCOME-DISTRIBUTION; EUROPEAN-UNION; LAW; DISTRIBUTIONS; MARKETS;
D O I：
10.1111/meca.12021
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper is aimed at contributing to the literature on income and wealth inequality by proposing a simple stochastic model in which wealth accumulation depends on the social relation' between two classes: capitalists or workers. As a result, the society may evolve towards an unequal outcome with few rich and many poor individuals. We study the dynamic properties of the model by means of computer simulations. A maximum likelihood estimation procedure is applied to analyse the Pareto or power law tail of wealth distribution. We also provide a scenario analysis to explore the system's behaviour under alternative parameter settings.
引用
收藏
页码：1 / 35
页数：35
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