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Talent, Growth and Income Distribution

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Author Info
Torvik, Ragnar

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Abstract

A model with heterogeneous individuals and bequests between generations is constructed to analyze income distribution and educational choice. The introduction of an imperfection in the credit market is shown to influence the allocation of talent. Both ability and bequest are of relevance in deciding whether or not to invest in education. With learning by doing between generations, the allocation of talent affects not only the level of production but also the growth rate. Copyright 1993 by The editors of the Scandinavian Journal of Economics.

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Publisher Info
Article provided by Blackwell Publishing in its journal Scandinavian Journal of Economics.

Volume (Year): 95 (1993)
Issue (Month): 4 (December)
Pages: 581-96
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Handle: RePEc:bla:scandj:v:95:y:1993:i:4:p:581-96

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  1. Lei Delsen & Mark Schonewille, 1999. "Human Capital and Labour Productivity, Integration of Institutions and Endogenous Growth," HEW 9908001, EconWPA. [Downloadable!]
  2. Elena Del Rey & Marìa del Mar Racionero, 2001. "Optimal educational choice and redistribution when cultural background matters," CSEF Working Papers 59, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
  3. Murat F. Iyigun, 1995. "Economic development and intergenerational economic mobility," International Finance Discussion Papers 524, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  4. Daniele Checchi, 1999. "Inequality in Incomes and Access to Education. A Cross-Country Analysis (1960-90)," Working Papers 21, University of Milano-Bicocca, Department of Economics, revised May 1999. [Downloadable!]
    Other versions:
  5. Jose L Wynne, 2001. "Financial Frictions in Business Cycles, Trade and Growth," Levine's Working Paper Archive 625018000000000127, David K. Levine. [Downloadable!]
  6. Zweimueller, Josef & Brunner, Johann K., 1996. "Heterogeneous Consumers, Vertical Product Differentiation and the Rate of Innovation," Economics Series 32, Institute for Advanced Studies. [Downloadable!]
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