The Growth-Inequality Nexus without Borrowing Restrictions and Government Intervention: Some Implications from a Prototype Model
AbstractUsing a prototype human capital based growth model without borrowing restrictions and government intervention, we study the dynamic evolution of aggregate output and income inequality. We show how even barebones models can yield some testable implications about the growth-inequality relation that may square nicely with the empirical reality. We also provide some useful speculations about this relation over different stages of economic development.
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Bibliographic InfoArticle provided by Society for AEF in its journal Annals of Economics and Finance.
Volume (Year): 1 (2000)
Issue (Month): 2 (November)
Endogenous growth; Income inequality; Human capital; Family economics; Barebones model;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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