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Income Distribution and Growth: The Kuznets Hypothesis Revisited

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Galor, Oded
Tsiddon, Daniel

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Abstract

This study develops a general equilibrium model in which the evolution of income inequality and output conforms with the Kuznets hypothesis. The paper presents a novel endogenous mechanism that generates the inverted-U relation between income inequality and per capita output, and captures the reciprocal influence between the two. Unlike previous attempts for a comprehensive theoretical modeling of this phenomenon, the evolution of the economy is consistent with another important empirical observation: namely, that output growth is accompanied in the early stages of development by a widening wage differential between skilled and unskilled labor, whereas in a later stage this wage differential declines. Copyright 1996 by The London School of Economics and Political Science.

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Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 63 (1996)
Issue (Month): 250 (Suppl.)
Pages: S103-17
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Handle: RePEc:bla:econom:v:63:y:1996:i:250:p:s103-17

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  4. Theo S Eicher & Cecilia Garcia Penalosa, . "Inequality and Growth," Discussion Papers in Economics at the University of Washington 0083, Department of Economics at the University of Washington. [Downloadable!]
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  5. Maria Jose Alvarez & Antonia Diaz, . "Minimum consuption, transitional dynamics ana the kuznets curve," Working Papers 2000-03, FEDEA. [Downloadable!]
  6. Xavier Ramos & Oriol Roca-Sagales, 2007. "Long Term Effects of Fiscal Policy on the Size and the Distribution of the Pie in the UK," RSCAS Working Papers 2007/39, European University Institute. [Downloadable!]
  7. Joseph F. Francois & Hugo Rojas-Romagosa, 2008. "Reassessing the relationship between inequality and development," CPB Discussion Papers 107, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  8. Donald S. Allen & Leonce Ndikumana, 1999. "Income inequality and minimum consumption: implications for growth," Working Papers 1999-013, Federal Reserve Bank of St. Louis. [Downloadable!]
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  10. Simon Fan, C., 2008. "Religious participation and children's education: A social capital approach," Journal of Economic Behavior & Organization, Elsevier, vol. 65(2), pages 303-317, February. [Downloadable!] (restricted)
  11. César Calderón & Alberto Chong & Rodrigo Valdés, 2004. "Labor Market Regulations and Income Inequality: Evidence for a Panel of Countries," RES Working Papers 4375, Inter-American Development Bank, Research Department. [Downloadable!]
  12. Hassler, John & Rodríguez Mora, José Vicente & Zeira, Joseph, 2000. "Inequality and Mobility," CEPR Discussion Papers 2497, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  13. César Calderón & Alberto Chong & Rodrigo Valdés, 2004. "Normativa del mercado laboral y desigualdad del ingreso: elementos de juicio de un grupo de países," RES Working Papers 4376, Inter-American Development Bank, Research Department. [Downloadable!]
  14. Benabou, R., 1996. "Inequality and Growth," Working Papers 96-22, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
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  15. Juan Vicente-Perdiz & Luis M. Borge, 2000. "Desarrollo y desigualdad con progreso técnico," Investigaciones Economicas, Fundación SEPI, vol. 24(3), pages 709-726, September. [Downloadable!]
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