Immiserizing Growth in a Closed Economy

This paper develops a model with three key features: a factor market distortion, monopoly power in the product market, and indivisibilities in consumption. We show that in this setting, there are multiple equilibria: one with high and the other with low equilibrium wages, incomes and output. Also that even in a closed economy, growth may be immiserizing. Finally, that redistribution could be a "rich man's game."

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Year of publication:	2003
Authors:	Krishna, Kala ; Sahin, Cemile
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Verelendungswachstum \| Immiserizing growth \| Allokation \| Allocation \| Umverteilung \| Redistribution
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Scandinavian Journal of Economics Volltext nicht verfügbar
Classification:	H23 - Externalities; Redistributive Effects ; Environmental Taxes and Subsidies ; O33 - Technological Change: Choices and Consequences; Diffusion Processes
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014074597