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Occupational Choice and the Growth-Inequality Relationship

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  • H. Lloyd-Ellis

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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File URL: http://www.economics.utoronto.ca/public/workingPapers/UT-ECIPA-LLOYDELL-95-02.ps
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File URL: http://www.economics.utoronto.ca/public/workingPapers/UT-ECIPA-LLOYDELL-95-02_1.ps
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Bibliographic 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
Date of revision:
Handle: RePEc:tor:tecipa:lloydell-95-02

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  1. 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.
  2. Jallade, Jean-Pierre, 1976. "Education finance and income distribution," World Development, Elsevier, vol. 4(5), pages 435-443, May.
  3. Dan Bernhardt & Huw Lloyd-Ellis, 1993. "Enterprise, Inequality and Economic Development," Working Papers 893, Queen's University, Department of Economics.
  4. Abhijit V. Banerjee & Andrew F. Newman, 1990. "Occupational Choice and the Process of Development," Discussion Papers 911, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. James Davies & John Whalley, 1989. "Taxes and Capital Formation: How Important is Human Capital?," NBER Working Papers 2899, National Bureau of Economic Research, Inc.
  6. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  7. 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.
  8. 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.
  9. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
  10. Bhagwati, Jagdish, 1973. "Education, class structure and income equality," World Development, Elsevier, vol. 1(5), pages 21-36, May.
  11. 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 818-34, August.
  12. Benabou, R., 1992. "Heterogeneity, Stratification, and Growth," Working papers 93-4, Massachusetts Institute of Technology (MIT), Department of Economics.
  13. 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.
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Cited by:
  1. Takashi Kamihigashi & John Stachurski, 2011. "Stability of Stationary Distributions in Monotone Economies," ANU Working Papers in Economics and Econometrics 2011-561, Australian National University, College of Business and Economics, School of Economics.
  2. Takashi Kamihigashi & John Stachurski, 2012. "Existence, Uniqueness and Stability of Stationary Distributions: An Extension of the Hopenhayn-Prescott Theorem," Discussion Paper Series DP2012-27, Research Institute for Economics & Business Administration, Kobe University.

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