Comparing inequality and mobility in linear models: Comment

摘要

This comment shows that Peng (2018)'s Theorem 2 requires amendment. A new set of (relatively stricter) assumptions is provided, under which Peng (2018)'s findings-in particular, the asymmetric impact of capital and income risk on wealth mobility-hold true, and the approach developed therein proves suited for comparing stationary distributions of linear stochastic models. (C) 2018 Elsevier B.V. All rights reserved.