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This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020
Unlike physical capital, human capital has both embodied and disembodied dimensions. It can be perceived of as skill and acquired knowledge, but also as knowledge spillover effects between overlapping generations and across different skill groups within and across countries. We illustrate the...
Persistent link: https://www.econbiz.de/10012201031
We investigate the effects of inequality in wealth on the incentives to contribute to a public good when agents are inequity averse and may differ in ability. We show that equality may lead to a reduction of public good provision below levels generated by purely selfish agents. But introducing...
Persistent link: https://www.econbiz.de/10009230686
The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The combination of a macroeconomic production function and...
Persistent link: https://www.econbiz.de/10010510592
Income differences arise from many sources. While some kinds of inequality, caused by effort differences, might be associated with faster economic growth, other kinds, arising from unequal opportunities for investment, might be detrimental to economic progress. We construct two new metadata...
Persistent link: https://www.econbiz.de/10010364975
Following Sen's (1973) characterization of the Gini coefficient as a ratio between a measure of aggregate income-based stress ("depression" in Sen's terminology) and aggregate income, we transform the Gini coefficient into a social welfare function rather than having the Gini coefficient feature...
Persistent link: https://www.econbiz.de/10015206789
We offer an explanation for the inconclusive results of empirical studies into the relationship between the magnitude of the Gini coefficient of income distribution at origin and the intensity of migration. Bearing in mind the substantial literature that identifies relative deprivation as an...
Persistent link: https://www.econbiz.de/10012161009
We examine the socially optimal wealth distribution in a two-person two-good model with heterogeneous workers and asymmetric social interactions where only one (social) individual derives positive or negative utility from the leisure of the other (non-social) individual. We show that the...
Persistent link: https://www.econbiz.de/10003755338
We show that the choice of the welfare measure has a substantial impact on the degree of welfare-related health inequality. Combining various income and wealth measures with different health measures, we calculate 80 health concentration indices. The influence of the welfare measure is more...
Persistent link: https://www.econbiz.de/10003941754
This paper disentangles the distributional and welfare impact of price changes since the start of the cost of living crisis for a subset of European countries with different welfare regimes and price changes. It decomposes the impact of inflation and measures welfare changes using the...
Persistent link: https://www.econbiz.de/10013460152