Income Distribution In Macroeconomic Models

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.

• | Author: Giuseppe Bertola|Reto Foellmi|Josef Zweimüller
• | Publisher: Princeton University Press
• | Publication Date: Sep 28, 2014
• | Number of Pages: 439 pages
• | Language: English
• | Binding: Paperback
• | ISBN-10: 0691164592
• | ISBN-13: 9780691164595