### A Positive Theory of Consumption Distribution

- 발행기관 서강대학교 일반대학원
- 지도교수 조장옥
- 발행년도 2009
- 학위수여년월 2009. 8
- 학위명 석사
- 학과 일반대학원 경제학과
- 실제URI http://www.dcollection.net/handler/sogang/000000045455
- 본문언어 영어
- 저작권 서강대학교의 논문은 저작권에 의해 보호받습니다

#### 초록/요약

Permanent heterogeneities are introduced in a dynamic stochsatic general equilibrium model and the distribution of consumption is studied. Closed form solutions are obtained and the followings are found. First, with the permanent heterogeneties, we can show that there exists a unique saddle path equilibrium and a distribution of consumption which are associated with an initial period asset distribution. Second, individual consumptions can be made equal as much as we want. However, equalizing consumptions requires a redistribution of initial assets and the dispersions of resulting asset and income distribution are incredibly larger than that of the case of benchmark unequal consumptions. Third, the results can be extended to the case of permanent shocks to individual productivities. With the modi¯cation, we may have some ex post mobility in income and wealth. However, the results without income mobility may be preserved in an expected sense.

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