Income Distribution in Macroeconomic Models
- ISBN-10
- 1400865093
- ISBN-13
- 9781400865093
- Category
- Business & Economics
- Pages
- 440
- Language
- English
- Published
- 2014-09-28
- Publisher
- Princeton University Press
- Authors
- Giuseppe Bertola, Reto Foellmi, Josef Zweimüller
Description
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.
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Other editions
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- 2014-09-28
- 439 pages
- Paperback
- Princeton University Press
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