Heterogeneity, Stratification and Growth
Author | : Roland Benabou |
Publisher | : |
Total Pages | : 40 |
Release | : 1992 |
Genre | : |
ISBN | : |
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Author | : Roland Benabou |
Publisher | : |
Total Pages | : 40 |
Release | : 1992 |
Genre | : |
ISBN | : |
Author | : Roland Bénabou |
Publisher | : |
Total Pages | : 40 |
Release | : 1992 |
Genre | : |
ISBN | : |
Author | : Roland Benabou |
Publisher | : |
Total Pages | : 0 |
Release | : 1993 |
Genre | : |
ISBN | : |
Author | : Roland Benabou |
Publisher | : |
Total Pages | : 60 |
Release | : 1993 |
Genre | : Economic development |
ISBN | : |
We examine how economic stratification affects inequality and growth over time. We study economies where heterogenous agents interact through local public goods or externalities (school funding, neighborhood effects) and economy-wide linkages (complementary skills. knowledge spillovers). We compare growth and welfare when families are stratified into homogeneous local communities and when they remain integrated. Segregation tends to minimize the losses from a given amount of heterogeneity, but integration reduces heterogeneity faster. Society may thus face an intertemporal tradeoff: mixing leads to slower growth in the short run, but to higher output or even productivity growth in the long run. This tradeoff occurs in particular when comparing local and national funding of education, which correspond to special cases of segregation and integration. More generally, we identify the key parameters which determine which structure is more efficient over short and long horizons. Particularly important are the degrees of complementarity in local and in global interactions.
Author | : Stavros Panageas |
Publisher | : Now Publishers |
Total Pages | : 92 |
Release | : 2020-11-23 |
Genre | : Business & Economics |
ISBN | : 9781680837506 |
The Implications of Heterogeneity and Inequality for Asset Pricing provides a unified framework to better understand this large literature and to reconcile several of the seemingly inconsistent results found in some seminal papers.
Author | : Wolfram Schlenker |
Publisher | : University of Chicago Press |
Total Pages | : 316 |
Release | : 2019-11-13 |
Genre | : Business & Economics |
ISBN | : 022661980X |
Agricultural yields have increased steadily in the last half century, particularly since the Green Revolution. At the same time, inflation-adjusted agricultural commodity prices have been trending downward as increases in supply outpace the growth of demand. Recent severe weather events, biofuel mandates, and a switch toward a more meat-heavy diet in emerging economies have nevertheless boosted commodity prices. Whether this is a temporary jump or the beginning of a longer-term trend is an open question. Agricultural Productivity and Producer Behavior examines the factors contributing to the remarkably steady increase in global yields and assesses whether yield growth can continue. This research also considers whether agricultural productivity growth has been, and will be, associated with significant environmental externalities. Among the topics studied are genetically modified crops; changing climatic factors; farm production responses to government regulations including crop insurance, transport subsidies, and electricity subsidies for groundwater extraction; and the role of specific farm practices such as crop diversification, disease management, and water-saving methods. This research provides new evidence that technological as well as policy choices influence agricultural productivity.
Author | : Thomas Lux |
Publisher | : Springer Science & Business Media |
Total Pages | : 326 |
Release | : 2006-06-06 |
Genre | : Business & Economics |
ISBN | : 3540272968 |
Economic application of nonlinear dynamics, microscopic agent-based modelling, and the use of artificial intelligence techniques as learning devices of boundedly rational actors are among the most exciting interdisciplinary ventures of economic theory over the past decade. This volume provides us with a most fascinating series of examples on "complexity in action" exemplifying the scope and explanatory power of these innovative approaches.
Author | : Vito Tanzi |
Publisher | : MIT Press |
Total Pages | : 448 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : 9780262201094 |
The contributors argue that there need not be a trade-off between growth and equity in the long run. However, attempts by government to influence income distribution through large-scale tax and transfer programs can have a negative impact on growth. The contrast is vivid. While the majority of people in the industrial world and some in the developing world enjoy unprecedented affluence, a far greater number of people in the low-income countries live in abject poverty. Although several developing countries are achieving rapid economic growth and poverty reduction, most formerly centrally planned countries are struggling to implement market-oriented reforms in the midst of economic deterioration and rising poverty. The paramount importance of reducing poverty worldwide is forcing economists and policymakers to look at how income distribution and economic growth interact. The essays in this volume grew out of a 1995 conference sponsored by the International Monetary Fund. The contributors are scholars and policymakers from academic institutions, governments, and international organizations. The questions discussed include: How does income distribution interact with economic growth in the short run and the long run? To what extent can government use transfer programs to increase the incomes of the poor? How can government use social programs to help the poor increase their income-earning capacity? Does distributional inequality create an obstacle to long-term poverty reduction? Alternatively, is distributional inequality a necessary means of achieving economic growth? Generally, the contributors agree that there need not be a trade-off between growth and equity in the long run. However, attempts by government to influence income distribution through large-scale tax and transfer programs can have a negative impact on growth.
Author | : Neri Salvadori |
Publisher | : Edward Elgar Publishing |
Total Pages | : 360 |
Release | : 2006-01-27 |
Genre | : Business & Economics |
ISBN | : 9781781008089 |
This book reconsiders and analyses the different approaches historically proposed in the literature on growth and distribution. The contributors have achieved, through a comprehensive and cohesive analysis of the approaches of different schools of thought, a wide-ranging interpretation of a variety of important economic phenomena. The book identifies elements characterising each approach and tries to derive from them a range of insights into the complexity of the growth process.
Author | : Theo S. Eicher |
Publisher | : MIT Press |
Total Pages | : 343 |
Release | : 2007-01-26 |
Genre | : Business & Economics |
ISBN | : 0262550644 |
Even minute increases in a country's growth rate can result in dramatic changes in living standards over just one generation. The benefits of growth, however, may not be shared equally. Some may gain less than others, and a fraction of the population may actually be disadvantaged. Recent economic research has found both positive and negative relationships between growth and inequality across nations. The questions raised by these results include: What is the impact on inequality of policies designed to foster growth? Does inequality by itself facilitate or detract from economic growth, and does it amplify or diminish policy effectiveness? This book provides a forum for economists to examine the theoretical, empirical, and policy issues involved in the relationship between growth and inequality. The aim is to develop a framework for determining the role of public policy in enhancing both growth and equality. The diverse range of topics, examined in both developed and developing countries, includes natural resources, taxation, fertility, redistribution, technological change, transition, labor markets, and education. A theme common to all the essays is the importance of education in reducing inequality and increasing growth.