curve in many Western economies during this period, with the fall in inequality following redistribution due to …

for missing credit and insurance markets. The resulting tradeoffs for growth and efficiency are explored, both … to higher income growth than taxes and transfers, but at the cost of lower insurance. Overall efficiency is assessed …

capital markets theories. It allows for departures from perfect democracy and embodies the trade-off between the growth costs … distribution and growth, as well as the relevant empirical evidence. The first model integrates the political-economy and imperfect … savings incentives and ameliorate the wealth constraints that impede investment by the poor. The second model is a growth …

to enhance institutional quality thereby promoting growth. The politically powerful coalition contemplates relinquishing …, and slow growth; and a more equal distribution of political and economic resources, high-quality institutions, and faster … growth. …

and economic growth. Individuals (who differ in abilities) live for two periods, working when young and owning capital … in time. In politico-economic equilibrium, more inequality (in terms of the skewedness of the distribution) yields a … lower pollution tax, a larger capital tax, and lower growth. …

and growth. In a very unequal economy, however, this growth-enhancing democratization will not take place. These …

redistributive than a nondemocratic regime, and this gives the elite an incentive to mount a coup. Because inequality makes democracy … unrest or revolution, and this may force the elite to democratize. Democracy may not consolidate because it is more … more costly for the elite, highly unequal societies are less likely to consolidate democracy and may end up oscillating …

inequality and environmental protection. We present a class of models (which captures a static model as well as an overlapping …

Is inequality harmful for growth? We suggest that it is. In a society where distributional conflict is important … negative relation between inequality and growth. After a comprehensive sensitivity analysis, we conclude that our findings are … activities which promote growth, such as the accumulation of capital and productive knowledge. In this paper we formulate a …