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Innovation and Growth with Rich and Poor Consumers

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Author Info
Brunner, Johann K
Zweimüller, Josef

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Abstract

This paper studies the impact of income inequality on the level of innovative activity in a model where innovations result in quality improvements. The market for quality goods is characterized by a natural oligopoly with two types of consumers – rich and poor. In general, we find that for reasons of strategic price setting a more equal distribution is favourable for innovation incentives. This is consistent with empirical evidence, suggesting that countries with a more equal distribution have grown faster.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1855.

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Date of creation: Apr 1998
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Handle: RePEc:cpr:ceprdp:1855

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Related research
Keywords: Growth; Inequality; Innovation; Product Quality;

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Find related papers by JEL classification:
H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

Cited by:
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  1. Reto Foellmi und Josef Zweimüller, . "Inequality and Economic Growth - European Versus U.S. Experiences," IEW - Working Papers iewwp158, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
  2. Foellmi, Reto & Zweimüller, Josef, 2005. "Income Distribution and Demand-Induced Innovations," CEPR Discussion Papers 4985, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. Josef Zweimueller, . "Inequality, Redistribution, and Economic Growth," IEW - Working Papers iewwp031, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
  4. Marasco, Antonio, 2002. "An endogenous growth model with quality ladders and consumers’ heterogeneity," MPRA Paper 5389, University Library of Munich, Germany, revised Jan 2007. [Downloadable!]
  5. Ling Shen, 2004. "Education, Income Distribution and Innovation," Bonn Econ Discussion Papers bgse11_2004, University of Bonn, Germany. [Downloadable!]
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