A Representative Consumer Theory of Distribution

G Caselli and Jaume Ventura

Working Papers from Harvard - Institute for International Development

Abstract: This paper shows that growth models featuring the representative consumer (RC) assumption can generate rich dynamics for the cross-sections of consumption, wealth and income. We consider a class of growth models with three sources of consumer heterogeneity : initial wealth, non-acquired skills and taste for consumption-smoothing.

Keywords: CONSUMER BEHAVIOUR; ECONOMIC GROWTH; INCOME DISTRIBUTION; SKILLED WORKERS (search for similar items in EconPapers)
JEL-codes: C51 D11 D31 O4 (search for similar items in EconPapers)
Pages: 36 pages
Date: 1996
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Citations: View citations in EconPapers (15)

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Journal Article: A Representative Consumer Theory of Distribution (2000)
Working Paper: A Representative Consumer Theory of Distribution (1996)
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