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A positive theory of optimal personal income distribution and growth

  • Gerold Blümle
  • Friedrich Sell
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    The core of this paper (in a microeconomic foundation on three levels—income generation, income spending, and social climate of the society) consists of a concave relationship between the (in) equality of personal income and the per capita growth rate. The results mentioned are derived in conjunction with a social welfare function which is bounded by the concave function. Furthermore, ample empirical evidence is shown for the suggestions made in this paper. Copyright International Atlantic Economic Society 1998

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    File URL: http://hdl.handle.net/10.1007/BF02299448
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    Article provided by Springer & International Atlantic Economic Society in its journal Atlantic Economic Journal.

    Volume (Year): 26 (1998)
    Issue (Month): 4 (December)
    Pages: 331-352

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    Handle: RePEc:kap:atlecj:v:26:y:1998:i:4:p:331-352
    DOI: 10.1007/BF02299448
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    1. Alberto Alesina & Roberto Perotti, 1993. "Income Distribution, Political Instability, and Investment," NBER Working Papers 4486, National Bureau of Economic Research, Inc.
    2. Perotti, Roberto & Alesina, Alberto, 1996. "Income Distribution, Political Instability, and Investment," Scholarly Articles 4553018, Harvard University Department of Economics.
    3. Henrekson, Magnus, 1996. "Sweden's Relative Economic Performance: Lagging Behind or Staying on Top?," Economic Journal, Royal Economic Society, vol. 106(439), pages 1747-59, November.
    4. Jeffrey D. Sachs, 1989. "Social Conflict and Populist Policies in Latin America," NBER Working Papers 2897, National Bureau of Economic Research, Inc.
    5. Sen, Amartya, 1974. "Informational bases of alternative welfare approaches : Aggregation and income distribution," Journal of Public Economics, Elsevier, vol. 3(4), pages 387-403, November.
    6. Rodrik, Dani & Alesina, Alberto, 1994. "Distributive Politics and Economic Growth," Scholarly Articles 4551798, Harvard University Department of Economics.
    7. Lindbeck, Assar, 1997. "Incentives in the Welfare State," Seminar Papers 604, Stockholm University, Institute for International Economic Studies.
    8. Atkinson, A B, 1997. "Bringing Income Distribution in from the Cold," Economic Journal, Royal Economic Society, vol. 107(441), pages 297-321, March.
    9. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    10. Milton Friedman, 1953. "Choice, Chance, and the Personal Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 61, pages 277.
    11. Robert J. Barro, 1996. "Determinants of Economic Growth: A Cross-Country Empirical Study," NBER Working Papers 5698, National Bureau of Economic Research, Inc.
    12. Atkinson,Anthony Barnes & Micklewright,John, 1992. "Economic Transformation in Eastern Europe and the Distribution of Income," Cambridge Books, Cambridge University Press, number 9780521433297, Junio.
    13. Roberto Chang, 1994. "Income inequality and economic growth: evidence and recent theories," Economic Review, Federal Reserve Bank of Atlanta, issue Jul, pages 1-10.
    14. Kevin M. Murphy & Andrei Shleifer & Robert Vishny, 1989. "Income Distribution, Market Size, and Industrialization," The Quarterly Journal of Economics, Oxford University Press, vol. 104(3), pages 537-564.
    15. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 465-490.
    16. Sherwin Rosen, 1996. "Public Employment and the Welfare State in Sweden," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 729-740, June.
    17. Bruno S. Frey (ed.), 1997. "Political Business Cycles," Books, Edward Elgar Publishing, number 920.
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