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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 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
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    1. Kevin M. Murphy & Andrei Shleifer & Robert Vishny, 1988. "Income Distribution, Market Size, and Industrialization," NBER Working Papers 2709, National Bureau of Economic Research, Inc.
    2. Atkinson,Anthony Barnes & Micklewright,John, 1992. "Economic Transformation in Eastern Europe and the Distribution of Income," Cambridge Books, Cambridge University Press, number 9780521433297, June.
    3. Jeffrey D. Sachs, 1989. "Social Conflict and Populist Policies in Latin America," NBER Working Papers 2897, National Bureau of Economic Research, Inc.
    4. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 465-490.
    5. 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.
    6. Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543.
    7. Milton Friedman, 1953. "Choice, Chance, and the Personal Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 61, pages 277.
    8. Perotti, Roberto & Alesina, Alberto, 1996. "Income Distribution, Political Instability, and Investment," Scholarly Articles 4553018, Harvard University Department of Economics.
    9. Alesina, Alberto F & Rodrik, Dani, 1991. "Distributive Politics and Economic Growth," CEPR Discussion Papers 565, C.E.P.R. Discussion Papers.
    10. 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.
    11. Robert J. Barro & David B. Gordon, 1981. "A Positive Theory of Monetary Policy in a Natural-Rate Model," NBER Working Papers 0807, National Bureau of Economic Research, Inc.
    12. Atkinson, A-B, 1996. "Bringing Income Distribution in from the Cold," Economics Papers 117, Economics Group, Nuffield College, University of Oxford.
    13. Lindbeck, Assar, 1997. "Incentives in the Welfare State," Seminar Papers 604, Stockholm University, Institute for International Economic Studies.
    14. 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.
    15. Alberto Alesina & Roberto Perotti, 1993. "Income Distribution, Political Instability, and Investment," NBER Working Papers 4486, National Bureau of Economic Research, Inc.
    16. Roberto Chang, 1994. "Income inequality and economic growth: evidence and recent theories," Economic Review, Federal Reserve Bank of Atlanta, issue Jul, pages 1-10.
    17. Bruno S. Frey (ed.), 1997. "Political Business Cycles," Books, Edward Elgar Publishing, number 920, April.
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