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Opportunity and social mobility

  • Christopher Phelan
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    This study argues that both unequal opportunity and social mobility are necessary implications of an efficient societal arrangement when incentives must be provided.

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    File URL: http://minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=896
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    File URL: http://minneapolisfed.org/research/sr/sr323.pdf
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    Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 323.

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    Date of creation: 2005
    Date of revision:
    Publication status: Published in Review of Economic Studies> (Vol. 73, No. 2, April 2006, pp. 487-504)
    Handle: RePEc:fip:fedmsr:323
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    1. Christopher Phelan & Robert M Townsend, 2010. "Computing Multi-Period, Information Constrained Optima," Levine's Working Paper Archive 117, David K. Levine.
    2. Phelan Christopher, 1995. "Repeated Moral Hazard and One-Sided Commitment," Journal of Economic Theory, Elsevier, vol. 66(2), pages 488-506, August.
    3. Christopher Phelan, 2002. "Inequality and fairness," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr.
    4. Prescott, Edward C & Townsend, Robert M, 1984. "Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard," Econometrica, Econometric Society, vol. 52(1), pages 21-45, January.
    5. Aubhik Khan & B. Ravikumar, 2002. "Enduring relationships in an economy with capital," Working Papers 02-5, Federal Reserve Bank of Philadelphia.
    6. Hopenhayn, H. & Nicolini, P.J., 1996. "Optimal Unemployment Insurance," RCER Working Papers 421, University of Rochester - Center for Economic Research (RCER).
    7. Rogerson, William P, 1985. "Repeated Moral Hazard," Econometrica, Econometric Society, vol. 53(1), pages 69-76, January.
    8. Atkeson, Andrew & Lucas, Robert E, Jr, 1992. "On Efficient Distribution with Private Information," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 427-53, July.
    9. Phelan, Christopher, 1994. "Incentives and Aggregate Shocks," Review of Economic Studies, Wiley Blackwell, vol. 61(4), pages 681-700, October.
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