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Public Investment and Unegalitarian Equilibrium

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  • Okuno, Nobuhiro

Abstract

Effects of public investment on income-wealth distribution is analyzed using a neoclassical growth model with income-wealth inequalities. The author considers income groups that differ in their wealth holdings but have the same strictly convex savings function. A neoclassical growth model with these features has a locally stable unegalitarian equilibrium. The author makes some comparative analyses of unegalitarian steady paths with respect to public investment. It is shown that public investment is likely to expand income-wealth inequality even though it raises per capita national income.

Suggested Citation

  • Okuno, Nobuhiro, 1986. "Public Investment and Unegalitarian Equilibrium," Public Finance = Finances publiques, , vol. 41(2), pages 260-266.
    • Handle: RePEc:pfi:pubfin:v:41:y:1986:i:2:p:260-66
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