Hongyi Li
Danyang Xie
Heng-Fu Zou
Additional information is available for the following registered author(s):
* Heng-Fu Zou
* Danyang Xie
Abstract
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.
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File URL: http://economics.ca/cgi/xms?jab=v33n4/04.pdf
File Format: application/pdf
Danyang Xie
Heng-Fu Zou
Additional information is available for the following registered author(s):
* Heng-Fu Zou
* Danyang Xie
Abstract
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.
Download Info
To download:
If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help file. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://economics.ca/cgi/xms?jab=v33n4/04.pdf
File Format: application/pdf
