Inequality and growth:: Some welfare calculations

被引：8

作者：

Cordoba, Juan Carlos ^{[1
]}

Verdier, Genevieve ^{[2
]}

机构：

[1] Rice Univ, Dept Econ, Houston, TX 77005 USA

[2] Int Monetary Fund, Washington, DC 20431 USA

来源：

JOURNAL OF ECONOMIC DYNAMICS & CONTROL | 2008年 / 32卷 / 06期

关键词：

welfare costs; business cycles; economic growth; inequality;

D O I：

10.1016/j.jedc.2007.06.015

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The main lotteries individuals face during their lifetime are country and family of birth. How much consumption growth would a newborn sacrifice to avoid these lotteries? We find that he may be willing to sacrifice a large fraction, if not all, to avoid them. Critical elements for the results are time discounting and risk aversion. Both reduce the effect of growth on welfare while risk aversion increases the benefits of more equal outcomes. Another key factor is the staggering size of risk at birth. Our calculations suggest a research agenda that treats growth and inequality as priorities. (C) 2007 Elsevier B.V. All rights reserved.

引用

页码：1812 / 1829

页数：18

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