A Representative Consumer Theory of Distribution
AbstractThis paper shows that growth models featuring the representative consumer (RC) assumption can generate rich dynamics for the cross-sections of consumption, wealth and income. We consider a class of growth models with three sources of consumer heterogeneity : initial wealth, non-acquired skills and taste for consumption-smoothing.
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Bibliographic InfoPaper provided by Harvard - Institute for International Development in its series Papers with number 534.
Length: 36 pages
Date of creation: 1996
Date of revision:
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Postal: CAER Project, Harvard Institute for International Development, 14 Story Street, Cambridge MA 02138O
Web page: http://www.hiid.harvard.edu/
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Other versions of this item:
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
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