IDEAS home Printed from https://ideas.repec.org/a/wly/canjec/v36y2003i4p1026-1033.html

Comments on ‘Dynamics of income distribution’

Author

Listed:
  • Liutang Gong

Abstract

. Using the Ramsey‐Cass‐Koopmans model with heterogeneous agents, this note presents the explicit relationship between the individual's asset holding and the aggregate capital stock. With the aid of this relationship, is examined the dynamics of income distribution as the economy expands. Finally, some examples are presented, contrary to the conjecture made in Li, Xie, and Zou (2000), showing that the income can still improve over time, even when the aggregate production function is convex. JEL classification: D3, O1, O4 Commentaires sur « Dynamique de la distribution du revenu ». A l’aide d’un modèle de type Ramsey‐Cass‐Koopmans avec des agents hétérogènes, cette note présente la relation explicite entre le stock d’actif détenu par l’individu et le stock de capital agrégé. A l’aide de cette relation, on examine la dynamique de la distribution du revenu à proportion que l’économie croît. Enfin certains exemples sont présentés qui contredisent la conjecture proposée par Li, Xie et Zou (2000)à savoir que le revenu peut s’accroître dans le temps même quand la fonction de production agrégée est convexe.

Suggested Citation

  • Liutang Gong, 2003. "Comments on ‘Dynamics of income distribution’," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 36(4), pages 1026-1033, November.
    • Handle: RePEc:wly:canjec:v:36:y:2003:i:4:p:1026-1033
    DOI: 10.1111/1540-5982.t01-2-00012
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1540-5982.t01-2-00012
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1540-5982.t01-2-00012?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Hongyi Li & Danyang Xie & Heng‐Fu Zou, 2000. "Dynamics of income distribution," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 33(4), pages 937-961, November.
    2. Xie Danyang, 1994. "Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria," Journal of Economic Theory, Elsevier, vol. 63(1), pages 97-112, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vladimir D. Matveenko & Alexei V. Korolev, 2011. "What Is Common In Different Economic Growth Models?," DEGIT Conference Papers c016_075, DEGIT, Dynamics, Economic Growth, and International Trade.
    2. De, Supriyo, 2014. "Intangible capital and growth in the ‘new economy’: Implications of a multi-sector endogenous growth model," Structural Change and Economic Dynamics, Elsevier, vol. 28(C), pages 25-42.
    3. Kazuo Mino & Kazuo Nishimura & Koji Shimomura & Ping Wang, 2008. "Equilibrium dynamics in discrete-time endogenous growth models with social constant returns," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 34(1), pages 1-23, January.
    4. Stefano Bosi & Carmen Camacho & Thai Ha-Huy, 2023. "Balanced growth and degrowth with human capital," Post-Print halshs-04805609, HAL.
    5. Benhabib, Jess & Perli, Roberto & Xie, Danyang, 1994. "Monopolistic competition, indeterminacy and growth," MPRA Paper 37411, University Library of Munich, Germany, revised 1994.
    6. J. R. Ruiz-Tamarit & M. Ventura-Marco, "undated". "The Reduction of Dimension in the Study of Economic Growth Models," Working Papers 2001-13, FEDEA.
    7. D. Vencatachellum, 1998. "A Differential R&D Game: Implications for Knowledge-Based Growth Models," Journal of Optimization Theory and Applications, Springer, vol. 96(1), pages 175-189, January.
    8. Hosoya, Kei, 2012. "Growth and multiple equilibria: A unique local dynamics," Economic Modelling, Elsevier, vol. 29(5), pages 1662-1665.
    9. Wälde, Klaus, 2003. "Endogenous business cycles and growth," Dresden Discussion Paper Series in Economics 12/03, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    10. Supriyo De, 2007. "Software Production, Human Capital and Endogenous Growth: Theoretical Analysis and Empirical Evidence from India," DEGIT Conference Papers c012_007, DEGIT, Dynamics, Economic Growth, and International Trade.
    11. Fernández, Esther & Pérez, Rafaela & Ruiz, Jesús, 2012. "The environmental Kuznets curve and equilibrium indeterminacy," Journal of Economic Dynamics and Control, Elsevier, vol. 36(11), pages 1700-1717.
    12. Chilarescu, Constantin, 2011. "On the existence and uniqueness of solution to the Lucas–Uzawa model," Economic Modelling, Elsevier, vol. 28(1), pages 109-117.
    13. Paweł Kumor, 2010. "Zależność nierówności plac od poziomu rozwoju gospodarczego," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 7-8, pages 45-62.
    14. Perez, Rafaela & Ruiz, Jesus, 2007. "Global and local indeterminacy and optimal environmental public policies in an economy with public abatement activities," Economic Modelling, Elsevier, vol. 24(3), pages 431-452, May.
    15. Dawood Mamoon, 2015. "How May International Trade affect Poverty in a Developing Country Setup? The Inequality Channel," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(5), pages 230-244, May.
    16. d'Albis, Hippolyte & Le Van, Cuong, 2006. "Existence of a competitive equilibrium in the Lucas (1988) model without physical capital," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 46-55, February.
    17. Maria João Ribeiro, 2003. "Endogenous Growth: Analytical Review of its Generating Mechanisms," NIPE Working Papers 4/2003, NIPE - Universidade do Minho.
    18. von Gaessler, Anne Edle & Ziesemer, Thomas, 2016. "Optimal education in times of ageing: The dependency ratio in the Uzawa–Lucas growth model," The Journal of the Economics of Ageing, Elsevier, vol. 7(C), pages 125-142.
    19. Salvador Ortigueira, 1999. "Equilibrium Indeterminacy in an Endogenous Growth Model: Debt as a Coordination Device," Working Papers 9901, Centro de Investigacion Economica, ITAM.
    20. Simone Marsiglio & Marco Tolotti, 2018. "Endogenous growth and technological progress with innovation driven by social interactions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(2), pages 293-328, March.

    More about this item

    JEL classification:

    • D3 - Microeconomics - - Distribution
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:canjec:v:36:y:2003:i:4:p:1026-1033. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1111/(ISSN)1540-5982 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.