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Aggregate Productivity Loss and the Theil Index of Inequality

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Author Info
Aoki, Shuhei

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Abstract

This paper suggests that the difference in the Theil indices of inequality between two economies approximately measures the relative loss of aggregate productivity caused by distortions in labor allocation. Moreover, the Theil index itself can be interpreted approximately as the possible maximum loss of aggregate productivity caused by these distortions.

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File URL: http://mpra.ub.uni-muenchen.de/7407/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7407.

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Date of creation: 01 Mar 2008
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Handle: RePEc:pra:mprapa:7407

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Related research
Keywords: inequality; marginal productivity theory; misallocation; productivity; Theil index;

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Find related papers by JEL classification:
E25 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
D33 - Microeconomics - - Distribution - - - Factor Income Distribution
D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity

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References listed on IDEAS
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.:
  1. Frank A Cowell, 2003. "Theil, Inequality and the Structure of Income Distribution," STICERD - Distributional Analysis Research Programme Papers 67, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  2. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 813-34, August.
  3. Diego Restuccia & Richard Rogerson, 2007. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," Working Papers tecipa-283, University of Toronto, Department of Economics. [Downloadable!]
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