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Comments on ‘Dynamics of income distribution’

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  • Liutang Gong

Abstract

. Using the Ramsey‐Cass‐Koopmans model with heterogeneous agents, this note presents the explicit relationship between the individual's asset holding and the aggregate capital stock. With the aid of this relationship, is examined the dynamics of income distribution as the economy expands. Finally, some examples are presented, contrary to the conjecture made in Li, Xie, and Zou (2000), showing that the income can still improve over time, even when the aggregate production function is convex. JEL classification: D3, O1, O4 Commentaires sur « Dynamique de la distribution du revenu ». A l’aide d’un modèle de type Ramsey‐Cass‐Koopmans avec des agents hétérogènes, cette note présente la relation explicite entre le stock d’actif détenu par l’individu et le stock de capital agrégé. A l’aide de cette relation, on examine la dynamique de la distribution du revenu à proportion que l’économie croît. Enfin certains exemples sont présentés qui contredisent la conjecture proposée par Li, Xie et Zou (2000)à savoir que le revenu peut s’accroître dans le temps même quand la fonction de production agrégée est convexe.

Suggested Citation

  • Liutang Gong, 2003. "Comments on ‘Dynamics of income distribution’," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 36(4), pages 1026-1033, November.
    • Handle: RePEc:wly:canjec:v:36:y:2003:i:4:p:1026-1033
    DOI: 10.1111/1540-5982.t01-2-00012
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    References listed on IDEAS

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    1. Hongyi Li & Danyang Xie & Heng‐Fu Zou, 2000. "Dynamics of income distribution," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 33(4), pages 937-961, November.
    2. Xie Danyang, 1994. "Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria," Journal of Economic Theory, Elsevier, vol. 63(1), pages 97-112, June.
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    More about this item

    JEL classification:

    • D3 - Microeconomics - - Distribution
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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