Matching Labor, Wealth, and Income Moments

[TO BE COMPLETED: As we note in Chapter Chap_LfEarn, we match the Gini coefficient of the income distribution through our calibration of the lifecyle productivity profile. With survey data on hours worked by age, we can adjust the \(\chi^n_s\) parameter to match the lifecycle profile of labor supply. The \(\beta^j\) and \(\chi^b_j\) parameters can be used to match the distribution of wealth given survey or administrative data describing its distribution.]