A Simple Model of Inequality, Occupational Choice, and Development
This paper analyzes a simple and tractable model of occupational choice in the presence of credit market imperfections. We examine the relative roles of parameters governing technology and transaction costs, and history in terms of the initial wealth distribution in determinig the long term wealth distribution and level of income of an economy. The possibility of the existence of cycles, and the role of lotteries and redistributive policies in archieving greater efficiency are examined.
|Date of creation:||Jan 2000|
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"The economics of Rotating Savings and Credit Associations,"
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- Blanchflower, David G & Oswald, Andrew J, 1998.
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- Abhijit V. Banerjee & Andrew F. Newman, 1990.
"Occupational Choice and the Process of Development,"
911, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-98, April.
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- Banerjee, Abhijit V & Newman, Andrew F, 1994. "Poverty, Incentives, and Development," American Economic Review, American Economic Association, vol. 84(2), pages 211-15, May.
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"Income Distribution and Macroeconomics,"
51644, University Library of Munich, Germany, revised 01 Sep 1989.
- Huw Lloyd-Ellis & Dan Bernhardt, 2000.
"Enterprise, Inequality and Economic Development,"
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- Thomas Piketty, 1997. "The Dynamics of the Wealth Distribution and the Interest Rate with Credit Rationing," Review of Economic Studies, Oxford University Press, vol. 64(2), pages 173-189.
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4554124, Harvard University Department of Economics.
- Xavier Sala-i-Martin, 1995.
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Economics Working Papers
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- Xavier Sala-I-Martin, 1997. "Transfers, Social Safety Nets, and Economic Growth," IMF Staff Papers, Palgrave Macmillan, vol. 44(1), pages 81-102, March.
- anonymous, 1995. "Does the bouncing ball lead to economic growth?," Regional Update, Federal Reserve Bank of Atlanta, issue Jul, pages 1-2, 4-6.
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