| Author: | Sakuragawa, M. Mitsui, S. |
| Title: | Redistribution policies under capital market imperfection |
| Journal: | Japanese Economic Review
2002 : MAR, VOL. 53:1, p. 94-113 |
| Index terms: | Capital markets Financial markets Economic theory |
| Language: | eng |
| Abstract: | The authors establish the existence and stability of the long-run waelth distribution in a credit constrained economy by applying the monotonicity condition developed by H. Hopenhayn and E. Prescott. There should emerge an egalitarian society of persistent inequality may occur in transition from the latter to the former is shown to depend on the design of redistributionpolicies. |
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