Vintage capital, distortions and development

Samuel de Abreu Pessôa and Rafael Rob
Authors registered in the RePEc Author Service: Rafael Robb

No 447, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: This paper asks to what extent distortions to the adoption of new technology cause income inequality across nations. We work in the framework of embodied technological progress with an individual, C.E.S. production function. We estimate the parameters of this production function from international data and calibrate the model, using U.S. National Income statistics. Our analysis suggests that distortions account for a bigger portion of income inequality than hitherto has been assessed.

Date: 2002-05-16
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Citations: View citations in EconPapers (2)

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Working Paper: Vintage Capital, Distortions and Development (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:447

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