The Evolution of Income and Fertility Inequalities over the Course of Economic Development: A Human Capital Perspective
State University of New York at Buffalo - Department of Economics; National Bureau of Economic Research (NBER); University of Chicago - University of Chicago Press; Institute for the Study of Labor (IZA)
Korea University - Department of Economics
Journal of Human Capital, Vol. 1, Winter 2007
Using an endogenous-growth, overlapping-generations framework in which human capital is the engine of growth, we trace the dynamic evolution of income and fertility distributions and their interdependencies over three endogenous phases of economic development. In our model, heterogeneous families determine fertility and children's human capital, and generations are linked via parental altruism and social interactions. We derive and test discriminating propositions concerning the dynamic behavior of inequalities in fertility, educational attainments, and three endogenous income inequality measures - family-income inequality, income-group inequality, and the Gini coefficient. In this context, we also reexamine the Kuznets hypothesis concerning the relation between income growth and inequality.
Number of Pages in PDF File: 38
Keywords: Human Capital, Fertility Inequalities, income inequality, Economic Development
JEL Classification: J11, J13, O4, O15Accepted Paper Series
Date posted: May 12, 2008
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