Income Distribution and Macroeconomics: The Persistence of Inequality in a Convex Technology Framework
Posted: 9 Sep 2002
I show that non-convexities in technology, assumed in the capital market imperfection literature on the relationship between income distribution and economic development, can be replaced by an assumption that the bequest function is convex with respect to income.
Keywords: Growth, Wealth distribution, Human Capital
JEL Classification: D31, J24
Suggested Citation: Suggested Citation