Dynamics of Income Distribution
In this paper, we have obtained closed-form solutions in Cass-Koopmans growth models with heterogeneous agents. The relationship between the form of production function and the dynamics of income distribution is made explicit. We then use this relationship to determine what production structure is simultaneously consistent with facts on growth and income inequality. Our empirical findings give support to models with decreasing returns in the reproducible factor.
|Date of creation:||Jul 1999|
|Date of revision:|
|Publication status:||Published in Canadian Journal of Economics, Volume 33, Issue 4, pages 937¨C961, November 2000|
|Contact details of provider:|| Web page: http://cema.cufe.edu.cn/|
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