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On the Growth-Maximizing Distribution of Income

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  • Robson, Arthur J
  • Wooders, Myrna

Abstract

This paper presents an unconventional argument based on population growth to bolster marginal productivity theory. There is an economy with a single output produced from a number of different types of labor. Each type of labor is reproduced from that type itself and from the amount of the output devoted to it under some income distributional norm. Any norm which fails to induce convergence to maximal balanced growth is growth dominated, in that the population and income it induces can be overwhelmed eventually. On the maximal balanced growth path, the norm divides output according to marginal productivity. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 38 (1997)
Issue (Month): 3 (August)
Pages: 511-26

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Handle: RePEc:ier:iecrev:v:38:y:1997:i:3:p:511-26

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  1. Lucas, Robert E, Jr, 1992. "On Efficiency and Distribution," Economic Journal, Royal Economic Society, vol. 102(411), pages 233-47, March.
  2. Davis, Eric, 1969. "A Modified Golden Rule: The Case with Endogenous Labor Supply," American Economic Review, American Economic Association, vol. 59(1), pages 177-81, March.
  3. Andrew Atkeson & Robert E Lucas, 2010. "On Efficient Distribution with Private Information," Levine's Working Paper Archive 2179, David K. Levine.
  4. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1, October.
  5. Hansson, Ingemar & Stuart, Charles, 1990. "Malthusian Selection of Preferences," American Economic Review, American Economic Association, vol. 80(3), pages 529-44, June.
  6. Benabou, R., 1994. "Education, Income Distribution, and Growth: The Local Connection," Working papers 94-16, Massachusetts Institute of Technology (MIT), Department of Economics.
  7. Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-81, June.
  8. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Wiley Blackwell, vol. 60(1), pages 35-52, January.
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Cited by:
  1. O'Reilly, B., 1998. "The Benefits of Low Inflation: Taking Shock "A nickel ain't worth a dime any more" [Yogi Berra]," Technical Reports 83, Bank of Canada.
  2. Edward Cartwright & Myrna Wooders, 2008. "Behavioral Properties of Correlated Equilibrium; Social Group Structures with Conformity and Stereotyping," Vanderbilt University Department of Economics Working Papers 0814, Vanderbilt University Department of Economics.
  3. Grafen, Alan, 2000. "A biological approach to economics through fertility," Economics Letters, Elsevier, vol. 66(3), pages 241-248, March.
  4. Wooders, Myrna & Berg, Hugo van den, 2001. "Female competition, evolution, and the battle of the sexes," The Warwick Economics Research Paper Series (TWERPS) 620, University of Warwick, Department of Economics.

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