English, Article, Journal or magazine article edition: INCOME INEQUALITY IN A JOB-SEARCH MODEL WITH HETEROGENEOUS TIME PREFERENCES? Rubens P. Cysne

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • INCOME INEQUALITY IN A JOB-SEARCH MODEL WITH HETEROGENEOUS TIME PREFERENCES?
Author
  • Rubens P. Cysne
Physical Description
  • preprint
Notes
  • This paper investigates the income inequality generated by a job-search process when di¤erent cohorts of homogeneous workers are allowed to have di¤erent degrees of impatience. Using the fact the average wage under the invariant Markovian distribution is a decreasing function of the time preference (Cysne, 2004), I show that the Lorenz curve and the between-cohort Gini coe¢ cient of income inequality can be easily derived in this case. An example with arbitrary measures regarding the wage o¤ers and the distribution of time preferences among cohorts provides some quantitative insights into how much income inequality can be generated, and into how it varies as a function of the probability of unemployment and of the probability that the worker does not find a job offer each period.
  • RePEc:anp:en2004:051
Language
  • English
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