Modelling income processes with lots of heterogeneity.
All empirical models of earnings processes in the literature assume a good deal of homogeneity. In contrast to this we model earnings processes allowing for lots of heterogeneity between agents. We also introduce an ex- tension to the linear ARMA model that allows that the initial convergence to the...
| Päätekijät: | , , |
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| Aineistotyyppi: | Working paper |
| Kieli: | English |
| Julkaistu: |
Department of Economics (University of Oxford)
2006
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