Related papers: Anomaly, class division, and decoupling in income …
We study an agent-based model of evolution of wealth distribution in a macro-economic system. The evolution is driven by multiplicative stochastic fluctuations governed by the law of proportionate growth and interactions between agents. We…
The Schelling model of segregation was introduced in economics to show how micro-motives can influence macro-behavior. Agents on a lattice have two colors and try to move to a different location if the number of their neighbors with a…
We investigate a model of stratified economic interactions between agents when the notion of spatial location is introduced. The agents are placed on a network with near-neighbor connections. Interactions between neighbors can occur only if…
We introduce a spatial economic growth model where space is described as a network of interconnected geographic locations and we study a corresponding finite-dimensional optimal control problem on a graph with state constraints. Economic…
We estimate the dynamic distributional effects of financial shocks in the Euro Area using survey-based microdata on personal incomes. We find that positive financial shocks increase inequality, with heterogeneity across different income…
A rich literature has explored the modeling of homophily and other forms of nonuniform mixing associated with individual-level covariates within the exponential family random graph (ERGM) framework. Such differential mixing does not fully…
Income inequality is a major contributor to health disparities, yet its effects often vary by geography and are commonly represented as compositional distributions (e.g., proportions of households across income brackets). Existing spatial…
Income segregation measures the extent to which households choose to live near other households with similar incomes. Sociologists theorize that income segregation can exacerbate the impacts of income inequality, and have developed indices…
Social networks amplify inequalities due to fundamental mechanisms of social tie formation such as homophily and triadic closure. These forces sharpen social segregation reflected in network fragmentation. Yet, little is known about what…
Cities create potential for individuals from different backgrounds to interact with one another. It is often the case, however, that urban infrastructure obfuscates this potential, creating dense pockets of affluence and poverty throughout…
The presence of hierarchy in many real-world networks is not yet fully explained. Complex interaction networks are often coarse-grain models of vast modular networks, where tightly connected subgraphs are agglomerated into nodes for…
The network of interpersonal connections is one of the possible heterogeneous factors which affect the income distribution emerging from micro-to-macro economic models. In this paper we equip our model discussed in [1,2] with a network…
We study a system of $N$ agents, whose wealth grows linearly, under the effect of stochastic resetting and interacting via a tax-like dynamics -- all agents donate a part of their wealth, which is, in turn, redistributed equally among all…
We study the impact of economic integration on agglomeration in a model where all consumers are inter-regionally mobile and have heterogeneous preferences regarding their residential location choices. This heterogeneity is the unique…
In the last decade, a large body of literature has been developed to explain the universal features of inequality in terms of income and wealth. By now, it is established that the distributions of income and wealth in various economies show…
All economies require physical resource consumption to grow and maintain their structure. The modern economy is additionally characterized by private debt. The Human and Resources with MONEY (HARMONEY) economic growth model links these…
One of the most important features of spatial networks such as transportation networks, power grids, Internet, neural networks, is the existence of a cost associated with the length of links. Such a cost has a profound influence on the…
A microscopic dynamic model is here constructed and analyzed, describing the evolution of the income distribution in the presence of taxation and redistribution in a society in which also tax evasion and auditing processes occur. The focus…
This papers aims to establish the empirical relationship between income, net wealth and their joint distribution in a selected group of euro area countries. I estimate measures of dependence between income and net wealth using a…
Many models of market dynamics make use of the idea of conservative wealth exchanges among economic agents. A few years ago an exchange model using extremal dynamics was developed and a very interesting result was obtained: a self-generated…