Replication data for: Sources of Lifetime Inequality

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Project Citation:

Huggett, Mark, Ventura, Gustavo, and Yaron, Amir. Replication data for: Sources of Lifetime Inequality. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112471V1

Project Description

Summary: Is lifetime inequality mainly due to differences across people established early in life or to differences in luck experienced over the working lifetime? We answer this question within a model that features idiosyncratic shocks to human capital, estimated directly from data, as well as heterogeneity in ability to learn, initial human capital, and initial wealth. We find that, as of age 23, differences in initial conditions account for more of the variation in lifetime earnings, lifetime wealth, and lifetime utility than do differences in shocks received over the working lifetime. (JEL D31, D91, J24, J31)

Scope of Project

JEL Classification:
      D31 Personal Income, Wealth, and Their Distributions
      D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
      J24 Human Capital; Skills; Occupational Choice; Labor Productivity
      J31 Wage Level and Structure; Wage Differentials

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Published Versions

V1 [2019-10-11]

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