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Factor income distribution and endogenous economic growth : when Piketty meets Romer
Irmen, Andreas; Tabaković, Amer - 2016
We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …
Persistent link: https://www.econbiz.de/10011568791
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Artificial intelligence, income distribution and economic growth
Gries, Thomas; Naudé, Wim - 2020
The economic impact of Artificial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard represen- tative household assumption is rejected,...
Persistent link: https://www.econbiz.de/10012438305
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A Competitive Idea-Based Growth Model with Shrinking Workers’ Income Share
Marchese, Carla - 2016
In this paper we present a model in which endogenous growth arises in competitive markets. Knowledge is described as a labor-augmenting factor used directly in the final goods' production. Firms demand both basic nonrival knowledge contents, which are supplied jointly and inelastically with raw...
Persistent link: https://www.econbiz.de/10013004547
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020
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Aggregate demand, aggregate supply, and endogenous growth : a synthetic neo-Kaleckian model
Palley, Thomas I. - 2010
Wachstum der Beschäftigung. Die Einkommensverteilung wird explizit modelliert, und sie stellt einen wichtigen Kanal dar, über … die Einkommensverteilung erklärt; eine Form der Phillips-Kurve und Inflationseffekte; Erwartungseffekte des …
Persistent link: https://www.econbiz.de/10009306639
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Factor substitution, income distribution, and growth in a generalized neoclassical model
Irmen, Andreas; Klump, Rainer - 2007 - This Version: October 16, 2007
We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...
Persistent link: https://www.econbiz.de/10003592897
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Factor income distribution and endogenous economic growth : when Piketty meets Romer
Irmen, Andreas; Tabakovic, Amer - 2016
Persistent link: https://www.econbiz.de/10011853082
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Inequality and Growth : A Heterogeneous Approach
Grigoli, Francesco - 2017
The combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and estimates its impact on economic growth with a...
Persistent link: https://www.econbiz.de/10012962147
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Inequality and Growth
Bénabou, Roland - 2010
Using two unifying models and an empirical exercise, this paper presents 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/10014061180
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Capital flows and endogenous growth
Komarov, Evgenij - 2021 - This version: November 18, 2021
So-called "uphill capital flows", i.e. flows of physical capital from relatively poor to rich countries, are a new phenomenon with yet unclear impact. We develop a unified framework incorporating economic institutions, human capital and physical capital to study the interaction of international...
Persistent link: https://www.econbiz.de/10012696550