Income distribution in macroeconomic models / Giuseppe Bertola, Reto Foellmi, Josef Zweimüller.

Format:

Book

Author/Creator:

Bertola, Giuseppe, author.

Foellmi, Reto, author.

Zweimüller, Josef, author.

Language:

English

Subjects (All):

Income distribution--Econometric models.

Income distribution.

Economic development--Econometric models.

Economic development.

Wealth--Econometric models.

Wealth.

Equality--Econometric models.

Equality.

Physical Description:

1 online resource (440 p.)

Edition:

Course Book

Place of Publication:

Princeton, New Jersey : Princeton University Press, 2006.

Language Note:

English

Summary:

This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990's revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

Contents:

Front matter

Contents

Introduction

Part One. Aggregate Growth and Individual Savings

CHAPTER ONE. Production and Distribution of Income in a Market Economy

CHAPTER TWO. Exogenous Savings Propensities

CHAPTER THREE. Optimal Savings

CHAPTER FOUR. Factor Income Distribution

CHAPTER FIVE. Savings and Distribution with Finite Horizons

CHAPTER SIX. Factor Shares and Taxation in the OLG Model

Part Two. Financial Market Imperfections

CHAPTER SEVEN. Investment Opportunities and the Allocation of Savings

CHAPTER EIGHT. Risk and Financial Markets

CHAPTER NINE. Uninsurable Income Shocks

Part Three. Many Goods

CHAPTER TEN. Distribution and Market Power

CHAPTER ELEVEN. Indivisible Goods and the Composition of Demand

CHAPTER TWELVE. Hierarchic Preferences

CHAPTER THIRTEEN. Dynamic Interactions of Demand and Supply

Solutions to Exercises

References

Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9781400865093

1400865093

OCLC:

887507661