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On the Growth-Maximizing Distribution of Income

  • Robson, Arthur J
  • Wooders, Myrna

This paper presents an unconventional argument based on population growth to bolster marginal productivity theory. There is an economy with a single output produced from a number of different types of labor. Each type of labor is reproduced from that type itself and from the amount of the output devoted to it under some income distributional norm. Any norm which fails to induce convergence to maximal balanced growth is growth dominated, in that the population and income it induces can be overwhelmed eventually. On the maximal balanced growth path, the norm divides output according to marginal productivity. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 38 (1997)
Issue (Month): 3 (August)
Pages: 511-26

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Handle: RePEc:ier:iecrev:v:38:y:1997:i:3:p:511-26
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  1. BĂ©nabou, Roland, 1994. "Education, Income Distribution, and Growth: The Local Connection," CEPR Discussion Papers 995, C.E.P.R. Discussion Papers.
  2. Andrew Atkeson & Robert E Lucas, 2010. "On Efficient Distribution with Private Information," Levine's Working Paper Archive 2179, David K. Levine.
  3. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1, December.
  4. Hansson, Ingemar & Stuart, Charles, 1990. "Malthusian Selection of Preferences," American Economic Review, American Economic Association, vol. 80(3), pages 529-44, June.
  5. Lucas, Robert E, Jr, 1992. "On Efficiency and Distribution," Economic Journal, Royal Economic Society, vol. 102(411), pages 233-47, March.
  6. Davis, Eric, 1969. "A Modified Golden Rule: The Case with Endogenous Labor Supply," American Economic Review, American Economic Association, vol. 59(1), pages 177-81, March.
  7. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
  8. Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-81, June.
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