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A Simple Model of Inequality, Occupational Choice, and Development

Maitreesh Ghatak () and Nien-Huei Jiang ()
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Nien-Huei Jiang: Department of Economics, Vanderbilt University

No 7, Vanderbilt University Department of Economics Working Papers from Vanderbilt University Department of Economics

Abstract: This paper analyzes a simple and tractable model of occupational choice in the presence of credit market imperfections. We examine the relative roles of parameters governing technology and transaction costs, and history in terms of the initial wealth distribution in determinig the long term wealth distribution and level of income of an economy. The possibility of the existence of cycles, and the role of lotteries and redistributive policies in archieving greater efficiency are examined.

JEL-codes: D31 D82 O10 (search for similar items in EconPapers)
Date: 2000-01
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