Minimum consumptions requirements: theoretical and quantitative implications for growth and distribution

This file is part of IDEAS, which uses RePEc data

Minimum consumptions requirements: theoretical and quantitative implications for growth and distribution

Author Info

Satyajit Chatterjee
B. Ravikumar
B. Ravikumar

Additional information is available for the following registered author(s):

Abstract

The authors study the impact of a minimum consumption requirement on the rate of economic growth and the evolution of wealth distribution. The requirement introduces a positive dependence between the intertemporal elasticity of substitution and household wealth. This dependence implies a transition phase during which the growth rate of per-capita quantities rise toward their steady-state values and the distributions of wealth, consumption, and permanent income become more unequal. The authors calibrate the minimum consumption requirement to match estimates available for a sample of Indian villagers and find that these transitional effects are quantitatively significant and depend importantly on the economy's steady-state growth rate. NOTE: This paper refers to figures not currently available with this electronic version. For a hard copy of the figures, call the Research Department's Publications Desk at 215-574-6428 and ask for Working Paper 97-15.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by Federal Reserve Bank of Philadelphia in its series Working Papers with number 97-15.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: 1997
Date of revision:
Handle: RePEc:fip:fedpwp:97-15

Contact details of provider:
Postal: 10 Independence Mall, Philadelphia, PA 19106-1574
Web page: http://www.philadelphiafed.org/
More information through EDIRC

Order Information:
Email:
Web: http://www.phil.frb.org/econ/wps/index.html

For technical questions regarding this item, or to correct its listing, contact: (Diane Rosenberger).

Other versions of this item:

Article
- Chatterjee, Satyajit & Ravikumar, B., 1999. "Minimum Consumption Requirements: Theoretical And Quantitative Implications For Growth And Distribution," Macroeconomic Dynamics, Cambridge University Press, vol. 3(04), pages 482-505, December. [Downloadable!]
Paper
- Chatterjee, S. & Ravikumar, B., 1997. "Minimum Consumption Requirements: Theoretical and Quantitative Implications for Growth and Distribution," Working Papers 97-15, University of Iowa, Department of Economics.

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Lombardo, Vincenzo, 2008. "Poor’s behaviour and inequality traps: the role of human capital," MPRA Paper 14511, University Library of Munich, Germany. [Downloadable!]
Nir, A., 2004. "A behavioral model of consumption patterns : the effects of cognitive dissonance and conformity," Discussion Paper 48, Tilburg University, Center for Economic Research. [Downloadable!]
repec:bep:maccon:v:3:y:2003:i:1:p:1128-1128 is not listed on IDEAS
Aubhik Khan & B. Ravikumar, 2000. "Costly technology adoption and capital accumulation," Working Papers 00-7, Federal Reserve Bank of Philadelphia. [Downloadable!]
Other versions:
- Khan, A. & Ravikumar, B., 1997. "Costly Technology Adoption and Capital Accumulation," Working Papers 97-12, University of Iowa, Department of Economics.
- Aubhik Khan & B. Ravikumar, 1998. "Costly Technology Adoption and Capital Accumulation," Development and Comp Systems 9802001, EconWPA. [Downloadable!]
- Aubhik Khan & B. Ravikumar, 2002. "Costly Technology Adoption and Capital Accumulation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 489-502, April. [Downloadable!] (restricted)
María J. Álvarez & Antonia Díaz, 2001. "Minimum Consumption And Transitional Dynamics In Wealth Distribution," Economics Working Papers we015013, Universidad Carlos III, Departamento de Economía. [Downloadable!]
Other versions:
- Alvarez-Pelaez, Maria J. & Diaz, Antonia, 2005. "Minimum consumption and transitional dynamics in wealth distribution," Journal of Monetary Economics, Elsevier, vol. 52(3), pages 633-667, April. [Downloadable!] (restricted)
Yoshiyasu Ono & Akihisa Shibata, 2006. "Capital Income Taxation and Specialization Patterns: Investment Tax vs. Saving Tax," KIER Working Papers 613, Kyoto University, Institute of Economic Research. [Downloadable!]
Other versions:
- Yoshiyasu Ono & Akihisa Shibata, 2006. "Capital Income Taxation and Specialization Patterns: Investment Tax vs. Saving Tax," ISER Discussion Paper 0649, Institute of Social and Economic Research, Osaka University. [Downloadable!]
Masao Ogaki & Qiang Zhang, 2000. "Risk Sharing in Village India: the Rule of Decreasing Relative Risk Aversion," Working Papers 00-02, Ohio State University, Department of Economics. [Downloadable!]
Tesfatsion, Leigh S., 2005. "Agent-Based Computational Modeling And Macroeconomics," Staff General Research Papers 12402, Iowa State University, Department of Economics. [Downloadable!]
Theodore Palivos & Chong K. Yip, 2007. "Illegal immigration in a heterogeneous society," Discussion Paper Series 2007_02, Department of Economics, University of Macedonia, revised Dec 2007. [Downloadable!]
Other versions:
- Theodore Palivos & Chong K. Yip, 2007. "Illegal Immigration in a Heterogeneous Society," Departmental Working Papers _188, Chinese University of Hong Kong, Department of Economics.
Francesc Obiols-Homs & Carlos Urrutia, 2004. "Transitional Dynamics and the Distribution of Assets," Macroeconomics 0407020, EconWPA. [Downloadable!]
Other versions:
- Francesc Obiols-Homs & Carlos Urrutia, 2005. "Transitional dynamics and the distribution of assets," Economic Theory, Springer, vol. 25(2), pages 381-400, 02. [Downloadable!] (restricted)
Vincent Martinet, 2007. "Maximizing minimal rights for sustainability: a viability approach," EconomiX Working Papers 2007-20, University of Paris West - Nanterre la Défense, EconomiX. [Downloadable!]
Donald S. Allen & Leonce Ndikumana, 1999. "Income inequality and minimum consumption: implications for growth," Working Papers 1999-013, Federal Reserve Bank of St. Louis. [Downloadable!]
Gomes, Orlando, 2007. "Stability analysis in a monetary model with a varying intertemporal elasticity of substitution," MPRA Paper 2890, University Library of Munich, Germany. [Downloadable!]
Other versions:
- Orlando Gomes, 2009. "Stability Analysis in a Monetary Model With a Varying Intertemporal Elasticity of Substitution," Icfai University Journal of Monetary Economics, Icfai Press, vol. 0(2), pages 32-41, May.
Ana Fernandes & Krishna B. Kumar, 2003. "Inappropriate Technology," Development and Comp Systems 0304003, EconWPA. [Downloadable!]
Marco Espinosa-Vega & Richard C. Barnett, 2005. "Barriers to Capital Accumulation and the Incidence of Child Labor," IMF Working Papers 05/220, International Monetary Fund. [Downloadable!]
Maria Jose Alvarez & Antonia Diaz, . "Minimum consuption, transitional dynamics ana the kuznets curve," Working Papers 2000-03, FEDEA. [Downloadable!]

Statistics

Access and download statistics

Did you know? IDEAS is also providing many rankings, for example of authors and institutions.

This page was last updated on 2009-11-18.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.