Title: Equilibrium Wealth and Consumption Inequality under Ambiguity Aversion

Speaker: Hua Fan, Assistant Professor at the Advanced Institute of Economic Research, Dongbei University of Finance and Economics. His research focus is macroeconomics, the application of uncertainty in heterogeneous agent models, and search and matching models. His research has been published in Annuals of Economics and Finance, International Review of Economics and Finance, and Journal of Macroeconomics journals.

Abstract: We develop a Bewley–Huggett–style model to examine how ambiguity aversion influences wealth and consumption inequality. Our findings reveal that a stronger preference for ambiguity aversion reduces both wealth and consumption inequality while generating welfare gains in general equilibrium. Additionally, we demonstrate that the impacts of heightened ambiguity aversion differ significantly from those associated with increased risk aversion.

Date & time: 10 March 2025, 9:30 - 11:30

Venue: B321, Zhixin Building, Central Campus, Shandong University