Income Distribution and Macroeconomics
AbstractThis paper analyzes the role of income distribution in macroeconomic analysis. The study demonstrates that the long-run equilibrium depends on the initial distribution of income. In accordance with empirical evidence concerning the conelation between income distribution and output, an economy that is characterized by a relatively equal distribution of wealth is likely to be wealthier in the long run. The study may, therefore, provide an additional explanation for the persistent differences in per-capita output across countries. Furthermore, the paper may shed light on cross-countries differences macroeconomic adjustment to aggregate shocks.
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Bibliographic InfoPaper provided by Brown University, Department of Economics in its series Working Papers with number 2013-12.
Date of creation: 2013
Date of revision:
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Postal: Department of Economics, Brown University, Providence, RI 02912
Wealth distribution; income distribution; growth; capital market imperfections;
Other versions of this item:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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- Les inÃ©galitÃ©s (1) : pourquoi s'en prÃ©occuper ?
by Camille in Ecopublix on 2008-03-12 14:49:00
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