Three commonly used measures of the impact of public spending yield conflicting results: one suggests that the public sector should be small, another that it should be large, and the third that it does not matter. Here, we avoid the problems of each approach by formulating a model in which the...

This study uses a simulation model of the Latin American economy in order to project the relationship between technical progress and income distribution over the 1970-2000 period. In the basic projections—an extrapolation of the present trends—a large number of urban and rural residents tend...