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Dynamics of Income Distribution

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Author Info
Hongyi Li (Chinese University of Hong Kong)
Danyang Xie (Hong Kong University of Science and Technology)
Heng-fu Zou (World Bank)

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Abstract

In this paper, we have obtained closed-form solutions in Cass-Koopmans growth models with heterogeneous agents. The relationship between the form of production function and the dynamics of income distribution is made explicit. We then use this relationship to determine what production structure is simultaneously consistent with facts on growth and income inequality. Our empirical findings give support to models with decreasing returns in the reproducible factor.

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File URL: http://129.3.20.41/eps/ge/papers/0210/0210001.pdf
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Publisher Info
Paper provided by EconWPA in its series GE, Growth, Math methods with number 0210001.

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Length: 31 pages
Date of creation: 04 Oct 2002
Date of revision:
Handle: RePEc:wpa:wuwpge:0210001

Note: Type of Document - PDF; prepared on PC; to print on HP; pages: 31; figures: Included
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Related research
Keywords: Income Distribution; Economic Growth;

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Find related papers by JEL classification:
D3 - Microeconomics - - Distribution
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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  22. Chatterjee, Satyajit, 1994. "Transitional dynamics and the distribution of wealth in a neoclassical growth model," Journal of Public Economics, Elsevier, vol. 54(1), pages 97-119, May. [Downloadable!] (restricted)
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