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Income Distribution in Macroeconomic Models
Reto Foellmi, Giuseppe Bertola, Josef Zweimüller, et al.
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Beschreibung
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 1990s 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.
Kundenbewertungen
Consumer, Consumption function, Consumer behaviour, Supply (economics), Substitution effect, Factors of production, Elasticity of substitution, Marginal propensity to consume, Stock, Aggregate income, Factor income, Market power, Pareto efficiency, Utility, Wage, Discounts and allowances, Rate of return, Asset, Saving, Market failure, Relative price, Interest rate, Economic inequality, Employment, Intertemporal budget constraint, Technology, Income Risk, Representative agent, Productivity, Marginal utility, Capital accumulation, Social planner, Factor price, Luxury goods, Macroeconomics, Income–consumption curve, Wealth, Investment, Present value, Economy, Technical progress (economics), Long run and short run, General equilibrium theory, Arbitrage, Tax, Uncertainty, AK model, Factor endowment, Marginal product, Budget constraint, Economic equilibrium, Time horizon, Factor market, Value (economics), Aggregate demand, Income distribution, Human capital, Expenditure, Consumption (economics), Household, Endogenous growth theory, Income, Ceteris paribus, Price elasticity of demand, Demand curve, Production function, Depreciation, Cobb–Douglas production function, Economic growth, Developed country