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Dynamic Equilibria with Unemployment Due to Undernourishment

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Author Info
Ray, Debraj
Streufert, Peter A

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Abstract

We provide characterization and stability results for the stationary equilibria of a competitive infinite-horizon model that incorporates the nutritional requirements of physical labor. We find that for many aggregate land stocks, there is a large continuum of stationary equilibrium unemployment rates. Since unemployment can be seen to stem from inequality in the initial distribution of land ownership, we suggest that certain land reforms can reduce unemployment.

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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 3 (1993)
Issue (Month): 1 (January)
Pages: 61-85
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Handle: RePEc:spr:joecth:v:3:y:1993:i:1:p:61-85

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  1. Antonia Díaz, 1997. "- Land Reform And Individual Property Rights," Working Papers. Serie AD 1997-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  2. Shankha Chakraborty & Mausumi Das, 2003. "Mortality, Human Capital and Persistent Inequality," Working papers 119, Centre for Development Economics, Delhi School of Economics. [Downloadable!]
    Other versions:
  3. Dilip Mookherjee & Debraj Ray, 2000. "Persistent Inequality," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-108, Boston University - Department of Economics, revised Oct 2002. [Downloadable!]
    Other versions:
  4. Costas Aariadis & John Stachurski, 2004. "Poverty Traps," Department of Economics - Working Papers Series 913, The University of Melbourne. [Downloadable!]
    Other versions:
    • Azariadis, Costas & Stachurski, John, 2005. "Poverty Traps," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 5 Elsevier. [Downloadable!] (restricted)
  5. MICHAEL R. CARTER & Frederic Zimmerman, 1998. "The Dynamic Cost and Persistence of Asset Inequality in an Agrarian Economy," Wisconsin-Madison Agricultural and Applied Economics Staff Papers 416, Wisconsin-Madison Agricultural and Applied Economics Department. [Downloadable!]
  6. Dilip Mookherjee & Debraj Ray, 2002. "Contractual Structure and Wealth Accumulation," American Economic Review, American Economic Association, vol. 92(4), pages 818-849, September. [Downloadable!]
    Other versions:
  7. Joanna Alexopoulos & Tiago V. de V. Cavalcanti, 2006. "Cheap Home Goods And Persistent Inequality," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 165, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]. [Downloadable!]
  8. Joan Esteban & Debraj Ray, 2006. "Inequality, Lobbying, and Resource Allocation," American Economic Review, American Economic Association, vol. 96(1), pages 257-279, March. [Downloadable!]
  9. Nirvikar Singh, 2004. "The Impact of International Labor Standards: A Survey of Economic Theory," International Trade 0412007, EconWPA. [Downloadable!]
  10. Debraj Ray, 2006. "On the dynamics of inequality," Economic Theory, Springer, vol. 29(2), pages 291-306, October. [Downloadable!] (restricted)
  11. Dilip Mookherjee & Debraj Ray, 2002. "Is Equality Stable?," American Economic Review, American Economic Association, vol. 92(2), pages 253-259, May. [Downloadable!]
    Other versions:
  12. Radhika Lahiri & Elizabeth Richardson, 2008. "Public and Private Expenditures on Health in the Presence of Inequality and Endogenous Mortality: A Political Economy Perspective," School of Economics and Finance Discussion Papers and Working Papers Series 240, School of Economics and Finance, Queensland University of Technology, revised 15 Dec 2008. [Downloadable!]
  13. Antonia Diaz, 2000. "On the Political Economy of Latin American Land Reforms," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(3), pages 551-571, July. [Downloadable!] (restricted)
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