Income Distribution in Macroeconomic Models (Hardcover) (ISBN-13: 9780691121710)

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.

Author: Giuseppe Bertola,Reto Foellmi,Josef Zweimüller
ISBN-10: 0691121710
ISBN-13: 9780691121710
Publisher: Princeton University Press
Language: English
Published: 12/25/2005
Pages: 456
Format: Hardcover
Weight: 1.76lbs
Size: 9.46h x 6.54w x 1.27d