Income Distribution in Macroeconomic Models.

Cover -- Title -- Copyright -- Contents -- Introduction -- PART ONE Aggregate Growth and Individual Savings -- CHAPTER ONE: Production and Distribution of Income in a Market Economy -- 1.1 Accounting -- 1.2 The Neoclassical Theory of Distribution -- CHAPTER TWO: Exogenous Savings Propensities -- 2.1 A Linear Consumption Function -- 2.2 References and Further Issues -- CHAPTER THREE: Optimal Savings -- 3.1 The Optimal Consumption Path -- 3.2 The Dynamics of Accumulation and Distribution -- 3.3 Welfare Distribution in Complete Markets -- 3.4 References and Further Issues -- 3.5 Appendix: HARA Preferences -- 3.6 Review Exercises -- CHAPTER FOUR: Factor Income Distribution -- 4.1 Factor Shares and Savings in Early Growth Models -- 4.2 Factor Shares in the Neoclassical Growth Model -- 4.3 Optimal Savings and Sustained Growth -- 4.4 Policy and Political Economy -- 4.5 References and Further Issues -- 4.6 Appendix: Factor Shares in a Two-Sector Growth Model -- CHAPTER FIVE: Savings and Distribution with Finite Horizons -- 5.1 Distribution and Growth in the Two-Period OLG Model -- 5.2 Inequality in a Perpetual Youth Model -- 5.3 One-Period Lifetimes and Bequests -- 5.4 References and Further Issues -- 5.5 Appendix: Consumption in the Perpetual Youth Model -- CHAPTER SIX: Factor Shares and Taxation in the OLG Model -- 6.1 Factor Shares in the Two-Period Model -- 6.2 Factor Shares and Growth in the Perpetual Youth Model -- 6.3 References and Further Issues -- PART TWO Financial Market Imperfections -- CHAPTER SEVEN: Investment Opportunities and the Allocation of Savings -- 7.1 Decreasing Returns to Individual Investment -- 7.2 Increasing Returns and Indivisibilities -- 7.3 Endogenous Factor Prices and "Trickle-Down" Growth -- 7.4 References and Further Issues -- 7.5 Review Exercises -- CHAPTER EIGHT: Risk and Financial Markets.

8.1 Optimization under Uncertainty -- 8.2 Rate-of-Return Risk -- 8.3 Portfolio Choice and Risk Pooling -- 8.4 References and Further Issues -- 8.5 Review Exercise -- CHAPTER NINE: Uninsurable Income Shocks -- 9.1 A Two-Period Characterization -- 9.2 General Equilibrium: The CARA Case -- 9.3 General Equilibrium: The CRRA Case -- 9.4 Application: Uninsurable Risk in the Labor Markets -- 9.5 References and Further Issues -- PART THREE Many Goods -- CHAPTER TEN: Distribution and Market Power -- 10.1 Growth through Expanding Product Variety -- 10.2 Variable Elasticities of Substitution -- 10.3 Factor Shares, Taxation, and Political Economy -- 10.4 References and Further Issues -- CHAPTER ELEVEN: Indivisible Goods and the Composition of Demand -- 11.1 Income Distribution and Product Diversity -- 11.2 The Introduction of New Products -- 11.3 Inequality and Vertical Product Differentiation -- 11.4 References and Further Issues -- CHAPTER TWELVE: Hierarchic Preferences -- 12.1 A Basic Framework -- 12.2 Growth, Distribution, and Structural Change -- 12.3 References and Further Issues -- CHAPTER THIRTEEN: Dynamic Interactions of Demand and Supply -- 13.1 Learning by Doing and Trickle-Down -- 13.2 Demand Composition and Factor Rewards -- 13.3 References and Further Issues -- Solutions to Exercises -- References -- Index.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.