Income Distribution in Macroeconomic Models

Income Distribution in Macroeconomic Models

by Giuseppe Bertola, Reto Foellmi, Josef Zweimuller
     
 

ISBN-10: 0691121710

ISBN-13: 9780691121710

Pub. Date: 12/05/2005

Publisher: Princeton University Press

"The interaction between the dynamics of economic growth and the evolution of economic inequality is an important and challenging problem. Recent advances in macroeconomics of heterogeneous agents have finally made it possible to investigate this question in a systematic manner. This timely book offers an excellent first broad overview in this area. The ideas in

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Overview

"The interaction between the dynamics of economic growth and the evolution of economic inequality is an important and challenging problem. Recent advances in macroeconomics of heterogeneous agents have finally made it possible to investigate this question in a systematic manner. This timely book offers an excellent first broad overview in this area. The ideas in the book are so intuitive that they can be taught to advanced undergraduates. The exposition is so clear, simple and yet rigorous that the book is useful in a first-year graduate macro sequence. Its comprehensive coverage makes it an indispensable source of reference for the researcher in the field. A great achievement! I wish I had written this book."—Kiminori Matsuyama, Northwestern University

"Income distribution questions are becoming increasingly important in modern macroeconomic theory, and they will probably become even more so as computational techniques are utilized to move macroeconomics beyond the representative agent paradigm. This book does a good job in summarizing the current state of the literature in an interesting and hands-on way."—Alex Michaelides, London School of Economics

"A well balanced, clearly argued, up-to-date, and informative account of the subject. The arguments that spin off from this book will interest not only macroeconomists but also others in the field."—Frank Cowell, Professor of Economics and Director of Distributional Analysis Research Programme, London School of Economics; author of The Economics of Poverty and Inequality

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Product Details

ISBN-13:
9780691121710
Publisher:
Princeton University Press
Publication date:
12/05/2005
Edition description:
New Edition
Pages:
440
Product dimensions:
6.20(w) x 9.30(h) x 1.50(d)

Table of Contents

Ch. 1Production and distribution of income in a market economy3
Ch. 2Exogenous savings propensities14
Ch. 3Optimal savings28
Ch. 4Factor income distribution51
Ch. 5Savings and distribution with finite horizons88
Ch. 6Factors shares and taxation in the OLG model127
Ch. 7Investment opportunities and the allocation of savings147
Ch. 8Risk and financial markets180
Ch. 9Uninsurable income shocks204
Ch. 10Distribution and market power241
Ch. 11Indivisible goods and the composition of demand266
Ch. 12Hierarchic preferences302
Ch. 13Dynamic interactions of demand and supply321

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