On the dynamics of inequality

被引：16

作者：

Ray, Debraj ^{[1
]}

机构：

[1] NYU, Dept Econ, New York, NY 10003 USA

来源：

ECONOMIC THEORY | 2006年 / 29卷 / 02期

关键词：

inequality; income distribution; intertemporal equilibrium;

D O I：

10.1007/s00199-005-0021-2

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The dynamics of inequality are studied in a model of human capital accumulation with credit constraints. This model admits a multiplicity of steady state skill ratios that exhibit varying degrees of inequality across households. The main result studies equilibrium paths. It is shown that an equilibrium sequence of skill ratios must converge monotonically to the smallest steady state that exceeds the initial ratio for that sequence. Convergence is "gradual" in that the steady state is not achieved in finite time. On the other hand, if the initial skill ratio exceeds the largest steady state, convergence to a steady state is immediate.

引用

页码：291 / 306

页数：16

共 27 条

[1] A theory of trickle-down growth and development [J].