On income and wealth inequality in Turkey

Basit Öğe Kaydı
dc.contributor.authorÖztunalı, Oğuz
dc.date.accessioned2021-12-21T17:13:49Z
dc.date.available2021-12-21T17:13:49Z
dc.date.issued2018-07-06
dc.description.abstractABSTRACT: In this paper, we study Turkey's income and wealth distribution using a model-based approach via a modified Aiyagari (1994) model. In doing so, we use recent parameter estimates for Turkey and calibrate our model to match Turkey's income and wealth inequality measures. We document that our calibrated model matches Turkey's empirical economic inequality metrics with high precision, therefore can be used to infer Turkey's wealth distribution, which lacks data and detailed analysis. We compare Turkey's inequality measures with other countries, and display that by any conventional metric, Turkey qualifies as one of the more unequal economies. Finally, we quantify the welfare cost of inequality, and report that in order not to switch to the unequal Turkish economy, a utilitarian benevolent planner of Turkey's counter-factual representative-agent economy would be indifferent to forgoing 25.15% of steady-state consumption along with working an extra 33.61% of steady-state hours indefinitelyen_US
dc.fullTextLevelFull Texten_US
dc.identifier.doi10.1016/j.cbrev.2018.06.002
dc.identifier.issn1303-0701
dc.identifier.scopus2-s2.0-85058528839en_US
dc.identifier.trdizinid300654en_US
dc.identifier.urihttps://hdl.handle.net/11411/4252
dc.identifier.urihttps://doi.org/10.1016/j.cbrev.2018.06.002
dc.identifier.urihttps://search.trdizin.gov.tr/yayin/detay/300654en_US
dc.identifier.wosWOS:000456529300002en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakTR-Dizinen_US
dc.issue3en_US
dc.language.isoenen_US
dc.nationalInternationalen_US
dc.numberofauthors2en_US
dc.pages95-106en_US
dc.publisherCentral Bank Reviewen_US
dc.relation.ispartofCentral Bank Reviewen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240718_Mükerrer
dc.subjectHeterogeneous-agenten_US
dc.subjectGeneral equilibrium modelen_US
dc.subjectIncomplete marketsen_US
dc.titleOn income and wealth inequality in Turkey
dc.typeArticle
dc.volume18en_US

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