Income Distribution in Macroeconomic Models / / Reto Foellmi, Giuseppe Bertola, Josef Zweimüller.

• Superior document: Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013
• VerfasserIn: Bertola, Giuseppe,; Foellmi, Reto,; Zweimüller, Josef,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2014]; ©2005
• Year of Publication: 2014
• Edition: Course Book
• Language: English
• Physical Description: 1 online resource (456 p.) :; 29 line illus.

This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

Table of Contents

Frontmatter -- Contents -- Introduction -- Part One. Aggregate Growth and Individual Savings -- CHAPTER ONE. Production and Distribution of Income in a Market Economy -- CHAPTER TWO. Exogenous Savings Propensities -- CHAPTER THREE. Optimal Savings -- CHAPTER FOUR. Factor Income Distribution -- CHAPTER FIVE. Savings and Distribution with Finite Horizons -- CHAPTER SIX. Factor Shares and Taxation in the OLG Model -- Part Two. Financial Market Imperfections -- CHAPTER SEVEN. Investment Opportunities and the Allocation of Savings -- CHAPTER EIGHT. Risk and Financial Markets -- CHAPTER NINE. Uninsurable Income Shocks -- Part Three. Many Goods -- CHAPTER TEN. Distribution and Market Power -- CHAPTER ELEVEN. Indivisible Goods and the Composition of Demand -- CHAPTER TWELVE. Hierarchic Preferences -- CHAPTER THIRTEEN. Dynamic Interactions of Demand and Supply -- Solutions to Exercises -- References -- Index