This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production function where public capital is complementary to private capital. A unique invariant steady-state distribution is derived, with three social classes: subsistence workers, 'government...

This paper relies on a model of wealth distribution dynamics and occupational choice to investigate the distributional consequences of policies and developments associated with transition from central planning to a market system. The model suggests that even an efficient privatization designed...

: The economic rationale for conditional cash transfers -- Design and implementation features of CCT programs -- The impact of CCTs on consumption poverty and employment -- The impact of CCT programs on the accumulation of human capital -- Conditional cash transfers : policy and design options