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Human Capital Investment, Inequality and Economic Growth

Murphy, Kevin M. - 2016

We treat rising inequality is an equilibrium outcome in which human capital investment fails to keep pace with rising demand for skills. Investment affects skill supply and prices on three margins: the type of human capital in which to invest; how much to acquire; and the intensity of use. The...

Persistent link: https://www.econbiz.de/10013001789

Democratic Capital : The Nexus of Political and Economic Change

Persson, Torsten - 2010

We study the joint dynamics of economic and political change. Predictions of the simple model that we formulate in the paper get considerable support in a panel of data on political regimes and GDP per capita for about 150 countries over 150 years. Democratic capital -- measured by a nation's...

Persistent link: https://www.econbiz.de/10012761656

Inequality and Growth

Bénabou, Roland - 2021

Using two unifying models and an empirical exercise, this paper present and extends the main theories linking income distribution and growth, as well as the relevant empirical evidence. The first model integrates the political economy and imperfect capital markets theories. It allows for...

Persistent link: https://www.econbiz.de/10013223063

Heterogeneity, Stratification, and Growth

Bénabou, Roland - 2021

We examine how economic stratification affects inequality and growth over time. We study economies where heterogenous agents interact through local public goods or externalities (school funding, neighborhood effects) and economy-wide linkages (complementary skills. knowledge spillovers). We...

Persistent link: https://www.econbiz.de/10013233451

Education, Income Distribution and Growth : The Local Connection

Bénabou, Roland - 2021

This paper develops a simple model of human capital accumulation and community formation by heterogeneous families, which provides an integrated framework for analyzing the local determinants of inequality and growth. Five main conclusions emerge. First, minor differences in education...

Persistent link: https://www.econbiz.de/10013247651

The Political Resource Curse

Brollo, Fernanda - 2010

politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … features of political candidates at the municipal level. In accordance with the predictions of the theory, we find that larger …

Persistent link: https://www.econbiz.de/10013148374

Is Inequality Harmful for Growth? Theory and Evidence

Persson, Torsten; Tabellini, Guido - 2021

Is inequality harmful for growth? We suggest that it is. To summarize our main argument: in a society where distributional conflict is more important, political decisions are more likely to produce economic policies that allow private individuals to appropriate less of the returns to growth...

Persistent link: https://www.econbiz.de/10013230194

Human Capital, Fertility, and Economic Growth

Becker, Gary S.; Murphy, Kevin M.; Tamura, Robert - 2021

Our model of growth departs from both the Malthusian and neoclassical approaches by including investments in human capital. We assume, crucially, that rates of return on human capital investments rise, rather than, decline, as the stock of human capital increases, until the stock becomes large....

Persistent link: https://www.econbiz.de/10013230385