Suchergebnisse

In this paper, we have obtained closed‐form solutions in Cass‐Koopmans growth models with heterogeneous agents. The relationship between the form of the production function and the dynamics of income distribution is made explicit. We then use this relationship to determine what production structure is simultaneously consistent with facts on growth and income inequality. Our empirical findings give support to models with decreasing returns in the reproducible factor. JEL Classification: D3, O1, O4Dans ce mémoire, les auteurs obtiennent des solutions pour des modèles de croissance à la Cass‐Koopmans dans le cas où les agents sont hétérogènes. On explicite la relation entre la forme de la fonction de production et la dynamique de la répartition des revenus. On utilise alors cette relation pour déterminer quelle structure de production est arrimée aux faits connus à la fois quant à la croissance économique et à la répartition des revenus. Les résultats empiriques supportent les modèles où les rendements sur les acteurs de production reproductibles sont décroissants.

We extend Miyazawa and Masegi's original idea of disaggregated interrelational income multipliers with regard to three aspects. First, we examine the effect of system closure on the inter‐income‐group matrix. Second, we formally include inter‐household transactions, or the informal economy, into Miyazawa's calculus. Third, we extend the interrelational multiplier to environmental factors. These extensions are applied to the Brazilian economy of 1995. Multiplier matrices excluding and including the informal economy are presented and interpreted, and the redistributive process of transfer payments is traced through consecutive spending rounds for various scenarios. Finally, these redistributive processes are enumerated in terms of transport fuel and electricity use. Our results indicate that, because of the distribution of ownership of productive capital, the income formation process is heavily skewed toward the highest incomes. Whether the existing process and potential redistributive policies alleviate environmental pressure depends on the factors as well as the population segment appraised.

This paper analyzes the relationship between income distribution and the severity of economic crises, where the severity is measured by the length and the depth of the recessions. Using an extensive panel dataset on income distribution and employing an event study framework, we find significant evidence that there is a negative association between the prevailing degree of income inequality and the severity of the recessions. In the case of high income countries that have bad income distribution, however, recessions are observed to be longer than the average. This observation is likely to result from the combination of the strong status-quo bias of the financially powerful income groups and the available means to redistribute towards the poor so as to help mitigate the pressures for reforms to improve income distribution via creative destruction. The longer period of recessions observed in developed countries than in less developed countries in the aftermath of the Great Recession is in support of this argument. The findings also reveal that recessions tend to be longer during the decade of the 1990s than the rest of the period studied. The evidence regarding the corrective effect on the recessions of accommodative fiscal or monetary policy stance, measured by the size of the government and the inflation rate, is observed to be only barely significant on average. Wirh regard to the impact of recessions on income distribution, the evidence in the paper indicates that the post-crises income distribution worsens significantly with the length but improves with the depth of the preceding recession. We also note that, in addition to the persistence effect, the lack of monetary discipline worsens income distribution in the postcrises period significantly.

This paper studies the relation between macroeconomic variables and the distribution
of income in Colombia. We relate the dynamics of aggregate economic variables
with the cross-section of disaggregate income to determine the transmission and
propagation mechanisms of aggregate shocks. The most important finding is a strong
negative effect of inflation rates on the distribution of income by education groups and
productive sectors.

Cover -- Half Title -- Title Page -- Copyright Page -- Original Title Page -- Original Copyright Page -- Dedication Page -- Contents -- List of Figures -- List of Tables -- Preface -- Chapter One The Nature of the Problem -- The plan of the study -- Introductory background -- Appendix 1.1 State ownership in key sectors in Latin American countries -- Appendix 1.2 Major state-owned enterprises (SOE) in Venezuela -- Chapter Two Employee Incomes -- High wages -- Surplus labour -- Generous incentives -- Social expenditures -- Distributional implications -- A specific input policy -- Appendix 2.1 Wages in Kenyan public enterprises: an illustrative note -- Appendix 2.2 Public enterprise proportions in employment and wage earnings in Peru (1974-9) -- Appendix 2.3 Ancillaries assisted by public enterprises in India -- Chapter Three Pricing -- General observations -- Prices for final consumers -- Prices of intermediate goods -- Sectoral pricing -- Regional development policies -- Appendix 3.1 Cross-subsidizations in a monolithic enterprise: a case study -- Chapter Four Deficits and Surpluses -- The nature of deficits -- The effects -- Direct budget expenditures -- Chapter Five The Aggregate Effects -- The size of the public enterprise sector -- The composition of the public enterprise sector -- Appendix 5.1 Dualism in income distribution -- Chapter Six Privatization and Income Distribution -- Introduction -- The sale implications -- The exchequer implications -- Long-term implications -- Chapter Seven Conclusion -- A résumé -- The government and distributional policies -- The institutional aspects -- Notes -- Index