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Occupational Choice and the Growth-Inequality Relationship

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H. Lloyd-Ellis

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Abstract

This paper examines the impact of education and occupational choice on the growth-inequality relationship. Occupations that play asymmetric roles in the production process are distinguished. The dynamic evolution of the detrended distribution of income is characterized and shown to converge to an endogenous, non-degenerate, stationary distribution. The long-run growth rate converges to a simple function of stuctural and fiscal parameters and the Lorenz curve describing long-run inequality. The impact of government policy on the growth-inequality relationship and welfare is assessed. The analysis is sensitive to whether we consider the short- or long- run effects and to whether redistribution takes place via taxation, expenditure or fiscal incentive schemes.

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Publisher Info
Paper provided by University of Toronto, Department of Economics in its series Working Papers with number lloydell-95-02.

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Length: 41 pages
Date of creation: 10 Jul 1995
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Handle: RePEc:tor:tecipa:lloydell-95-02

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Find related papers by JEL classification:
E0 - Macroeconomics and Monetary Economics - - General
O1 - Economic Development, Technological Change, and Growth - - Economic Development
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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  1. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Blackwell Publishing, vol. 60(1), pages 35-52, January. [Downloadable!] (restricted)
  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. Bénabou, Roland, 1993. "Heterogeneity, Stratification and Growth," CEPR Discussion Papers 815, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  4. Dan Bernhardt & Huw Lloyd-Ellis, 1993. "Enterprise, Inequality and Economic Development," Working Papers 893, Queen's University, Department of Economics.
    Other versions:
  5. Jallade, Jean-Pierre, 1976. "Education finance and income distribution," World Development, Elsevier, vol. 4(5), pages 435-443, May. [Downloadable!] (restricted)
  6. Tamura, Robert, 1991. "Income Convergence in an Endogenous Growth Model," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 522-40, June. [Downloadable!] (restricted)
  7. Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, vol. 72(4), pages 551-59, November. [Downloadable!] (restricted)
  8. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S103-26, October. [Downloadable!] (restricted)
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  9. Besley, Timothy & McLaren, John, 1993. "Taxes and Bribery: The Role of Wage Incentives," Economic Journal, Royal Economic Society, vol. 103(416), pages 119-41, January. [Downloadable!] (restricted)
  10. James Davies & John Whalley, 1989. "Taxes and Capital Formation: How Important is Human Capital?," NBER Working Papers 2899, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-98, April. [Downloadable!] (restricted)
    Other versions:
  12. Bhagwati, Jagdish, 1973. "Education, class structure and income equality," World Development, Elsevier, vol. 1(5), pages 21-36, May. [Downloadable!] (restricted)
  13. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. [Downloadable!] (restricted)
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