haku: @author Sorger, G. / yhteensä: 10
viite: 3 / 10
| Tekijä: | Sorger, G. |
| Otsikko: | Income and wealth distribution in a simple model of growth |
| Lehti: | Economic Theory
2000 : VOL. 16:1, p. 23-42 |
| Asiasana: | GROWTH INEQUALITY SECTORAL MODELS |
| Kieli: | eng |
| Tiivistelmä: | This paper studies a deterministic one-sector growth model with a constant returns to scale production function and endogenous labor supply. It is shown that the distribution of capital among the agents has an effect on the level per-capita output. There exists a continuum of stationary equilibria with different levels of per-capita output. If the elasticity of intertemporal substitution is large, a higher output level can be achieved when income inequality is great, that is, when the income distribution is strongly dispersed. |
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