INCOME INEQUALITY IN A JOB-SEARCH MODEL WITH HETEROGENEOUS TIME PREFERENCES?

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.

Imposto inflacionário e transferências inflacionárias no Mercosul e nos Estados Unidos

Este artigo apresenta as séries de imposto inflacionário (II), transferências inflacionárias para os bancos comerciais (TI) e transferências inflacionárias totais (TIT=II+TI) para os países do Mercosul e para os Estados Unidos, no período que vai de 1989 a 2003.<br>This work presents the series of inflation tax (II), inflation transfers to the comercial banks (TI) and total inflation transfers (TIT=II+TI) of the Mercosul countries and of the United States between 1989 and 2003