This paper analyzes the role of income distribution in macroeonomic analysis. The study demonstrates that the long-run equilibrium depends on the initial distribution of income. In accordance with empirical evidence concerning the correlation between income distribution and output, an economy...

This paper analyzes the role of income distribution in macroeonomic analysis. The study demonstrates that the long-run equilibrium depends on the initial distribution of income. In accordance with empirical evidence concerning the correlation between income distribution and output, an economy...

This paper analyzes the role of wealth distribution in macroeconomics through investment in human capital. In the presen ce of credit markets' imperfections and indivisibilities in investment in human capital, the initial distribution of wealth affects aggregate output and investment both in the...

This paper analyzes the role of income distribution in macroeconomic analysis. The study demonstrates that the long-run equilibrium depends on the initial distribution of income. In accordance with empirical evidence concerning the correlation between income distribution and output, an economy...

This research explores the long-run effect of industrialization on the process of development. In contrast to conventional wisdom that views industrial development as a catalyst for economic growth, highlighting its persistent effect on economic prosperity, the study establishes that while the...

This research explores the effects of within-group heterogeneity on group-level productivity. It establishes that observed genetic diversity of 230 worldwide ethnic groups, as well as predicted genetic diversity of 1,331 ethnic groups across the globe, has a hump-shaped effect on economic...