Technological Progress and Income Inequality.
This paper examines the effects of Hicks-neutral, Harrod-neutral, and Solow-neutral technological improvements on the distribution of income in an overlapping generations economy with endogenous labor supply and a bequest motive. Income inequality in this model is generated by a stochastic process representing random variations in intergenerational transfers and pure luck. The comparative dynamics analysis trace the effects of the aforementioned technological changes in each and every period after they occur. These effects depend on the nature of the technological change and on the elasticity of substitution.
Year of publication: |
1995
|
---|---|
Authors: | Karni, Edi ; Zilcha, Itzhak |
Published in: |
Economic Theory. - Springer. - Vol. 5.1995, 2, p. 277-94
|
Publisher: |
Springer |
Saved in:
Saved in favorites
Similar items by person
-
Saving behavior in stationary equilibrium with random discounting
Karni, Edi, (2000)
-
Welfare and comparative statics implications of fair social security : A steady-state analysis
Karni, Edi, (1986)
-
Aggregate and distributional effects of fair social security
Karni, Edi, (1989)
- More ...