IDEAS home Printed from https://ideas.repec.org/p/lmu/muenar/3386.html
   My bibliography  Save this paper

A Neoclassical Theory of Wealth Distribution

Author

Listed:
  • Schlicht, Ekkehart

Abstract

The linear savings function in Stiglitz' model of wealth distribution is replaced by the assumption that the average savings propensity of each individual is determined by its relative income position and the marginal propensity to save is an increasing function of individual income. It is shown that the model generates locally stable two-class equilibria under certain conditions which are analyzed carefully. In other words, Pasinetti-type class savings behaviour is explained endogeneously. A two-class property of nonstationary solutions is explained

Suggested Citation

  • Schlicht, Ekkehart, 1975. "A Neoclassical Theory of Wealth Distribution," Munich Reprints in Economics 3386, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:3386
    as

    Download full text from publisher

    File URL: https://epub.ub.uni-muenchen.de/3386/1/3.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Pasinetti und Piketty (Leider lang und technisch)
      by Ekkehart Schlicht in Funktionale Staatsfinanzen on 2014-06-29 21:00:00
    2. Zur Theorie der Vermögensverteilung
      by Ekkehart Schlicht in Funktionale Staatsfinanzen on 2014-06-20 14:32:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Günther Rehme, 2011. "Endogenous Policy And Cross‐Country Growth Empirics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 58(2), pages 262-296, May.
    2. repec:dau:papers:123456789/1799 is not listed on IDEAS
    3. Gerhard Orosel, 1991. "Inheritance and inequality when wealth enters the utility function," Journal of Economics, Springer, vol. 53(2), pages 133-160, June.
    4. Jean‐François Jacques & Antoine Rebeyrol, 2010. "Primitive Accumulation, Growth And The Genesis Of Social Classes," Metroeconomica, Wiley Blackwell, vol. 61(3), pages 540-557, July.
    5. Kirill Borissov & Stephane Lambrecht, 2005. "Growth and Distribution in Models with Endogenous Impatience," EUSP Department of Economics Working Paper Series Ec-03/05, European University at St. Petersburg, Department of Economics, revised Oct 2005.
    6. Günther Rehme, 2010. "Why Run a Million Regressions? Endogenous Policy and Cross-Country Growth Empirics," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 166(4), pages 735-759, December.
    7. Borissov, Kirill, 2016. "The Rich And The Poor In A Simple Model Of Growth And Distribution," Macroeconomic Dynamics, Cambridge University Press, vol. 20(7), pages 1934-1952, October.
    8. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "Indebted Demand," The Quarterly Journal of Economics, Oxford University Press, vol. 136(4), pages 2243-2307.
    9. Kirill Borissov & Stephane Lambrecht, 2005. "Growth and Distribution in Models with Endogenous Impatience," EUSP Department of Economics Working Paper Series 2005/03, European University at St. Petersburg, Department of Economics, revised Oct 2005.
    10. Basu, Kaushik & Jones, Eric & Schlicht, Ekkehart, 1987. "The growth and decay of custom: The role of the new institutional economics in economic history," Explorations in Economic History, Elsevier, vol. 24(1), pages 1-21, January.
    11. Beck Hanno & Prinz Aloys, 2014. "Willkommen in Schumpeters Hotel: Zur Dynamik der Vermögensverteilung / Welcome to Schumpeter's hotel – On the dynamics of the distribution of wealth," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 65(1), pages 263-278, January.
    12. Bourguignon, Francois, 2005. "The Effect of Economic Growth on Social Structures," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 27, pages 1701-1747, Elsevier.
    13. repec:dau:papers:123456789/4093 is not listed on IDEAS
    14. Borissov, Kirill, 2013. "Growth and distribution in a model with endogenous time preferences and borrowing constraints," Mathematical Social Sciences, Elsevier, vol. 66(2), pages 117-128.
    15. Borissov, K. & Pakhnin, M., 2018. "A Division of Society into the Rich and the Poor: Some Approaches to Modeling," Journal of the New Economic Association, New Economic Association, vol. 40(4), pages 32-59.
    16. Kirill Borissov & Stéphane Lambrecht, 2009. "Growth and distribution in an AK-model with endogenous impatience," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 39(1), pages 93-112, April.
    17. Reto Foellmi, 2008. "Inequality and aggregate savings in the neoclassical growth model," IEW - Working Papers 395, Institute for Empirical Research in Economics - University of Zurich.
    18. Borissov, Kirill, 2016. "The Rich And The Poor In A Simple Model Of Growth And Distribution," Macroeconomic Dynamics, Cambridge University Press, vol. 20(7), pages 1934-1952, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lmu:muenar:3386. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tamilla Benkelberg (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.