Income Distribution in a Stock-Flow Consistent Model with Education and Technological Change
We model a macroeconomy with stock-flow consistent national accounts built from the local interactions of heterogenous agents (households, firms, bankers, and a government) through product, labor, and money markets in discrete time. We use this model to show that, without any restrictions on the type of interactions agents can make, and with asymmetric information on the part of firms and households in this economy, power-law dynamics with respect to firm size and firm age, income distribution, skill set choice, returns to innovation, and earnings can emerge from multiplicative processes originating in the labor market.
Volume (Year): 37 (2011)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/|
Postal:c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
Phone: (201) 684-7346
Web page: https://www.qu.edu/eea/
More information through EDIRC
|Order Information:||Web: http://www.springer.com/economics/journal/41302|
When requesting a correction, please mention this item's handle: RePEc:pal:easeco:v:37:y:2011:i:1:p:134-149. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.