Production and Distribution of Income in a Market Economy

Giuseppe Bertola, Reto Foellmi and Josef Zweimüller ()
Additional contact information
Giuseppe Bertola: University of Turin

A chapter in Income Distribution in Macroeconomic Models, 2005 from Princeton University Press

Abstract: This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

Keywords: distribution; income; wealth; macroeconomy; macroeconomics; economics; economy; equal; growth; market; methods; theory; capital; accumulation; tools; framework; analysis; political; politics; students; specialist; research; model (search for similar items in EconPapers)
Date: 2005
ISBN: 9780691121710
References: Add references at CitEc
Citations:

Downloads: (external link)
http://assets.press.princeton.edu/chapters/s8058.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pup:chapts:8058

Access Statistics for this chapter

More chapters in Introductory Chapters from Princeton University Press
Bibliographic data for series maintained by Webmaster ().