A Simple Model of Inequality, Occupational Choice, and Development
AbstractThis paper analyzes a simple and tractable model of occupational choice in the presence of credit market imperfections. We examine the relative roles of parameters governing technology and transaction costs, and history in terms of the initial wealth distribution in determinig the long term wealth distribution and level of income of an economy. The possibility of the existence of cycles, and the role of lotteries and redistributive policies in archieving greater efficiency are examined.
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Bibliographic InfoPaper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0007.
Date of creation: Jan 2000
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Web page: http://www.vanderbilt.edu/econ/wparchive/index.html
Other versions of this item:
- Ghatak, Maitreesh & Nien-Huei Jiang, Neville, 2002. "A simple model of inequality, occupational choice, and development," Journal of Development Economics, Elsevier, vol. 69(1), pages 205-226, October.
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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