Abstract
Available data show that the pattern of the distribution of wealth conforms to the well-known Pareto law. Why this should be so was explained by Wold and Whittle (1957) who used a comparatively simple stochastic model for the purpose. The following paper builds on this work. By removing certain simplifications it may gain some additional insights.
First published in the Review of Economic Studies, vol. 39, no. 3, July 1972; revised and rewritten.
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© 1990 Josef Steindl
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Steindl, J. (1990). The Distribution of Wealth After a Model of Wold and Whittle. In: Economic Papers 1941–88. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20821-0_24
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DOI: https://doi.org/10.1007/978-1-349-20821-0_24
Publisher Name: Palgrave Macmillan, London
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