This paper uses heterogeneous panel cointegration techniques to estimate the long-run effect of income inequality on … per-capita income for 46 countries over the period 1970–1995. We find that inequality has a negative long-run effect on …

sector and inequality of income rises with productivity. We show that the expected utility of all agents can fall while … for status and technology-induced rises in inequality. Copyright Springer Science+Business Media New York 2014 …