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Opportunity and social mobility

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  • Christopher Phelan

Abstract

This study argues that both unequal opportunity and social mobility are necessary implications of an efficient societal arrangement when incentives must be provided.

Suggested Citation

  • Christopher Phelan, 2005. "Opportunity and social mobility," Staff Report 323, Federal Reserve Bank of Minneapolis.
    • Handle: RePEc:fip:fedmsr:323
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    References listed on IDEAS

    as
    1. Christopher Phelan & Robert M. Townsend, 1991. "Computing Multi-Period, Information-Constrained Optima," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(5), pages 853-881.
    2. Cheng Wang, 1995. "Dynamic Insurance with Private Information and Balanced Budgets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 62(4), pages 577-595.
    3. Andrew Atkeson & Robert E. Lucas, 1992. "On Efficient Distribution With Private Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(3), pages 427-453.
    4. Prescott, Edward C & Townsend, Robert M, 1984. "Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard," Econometrica, Econometric Society, vol. 52(1), pages 21-45, January.
    5. Aubhik Khan & B. Ravikumar, 2002. "Enduring relationships in an economy with capital," Working Papers 02-5, Federal Reserve Bank of Philadelphia.
    6. Hopenhayn, Hugo A & Nicolini, Juan Pablo, 1997. "Optimal Unemployment Insurance," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 412-438, April.
    7. Christopher Phelan, 2002. "Inequality and fairness," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 26(Spr).
    8. Christopher Phelan, 1994. "Incentives and Aggregate Shocks," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(4), pages 681-700.
    9. Rogerson, William P, 1985. "Repeated Moral Hazard," Econometrica, Econometric Society, vol. 53(1), pages 69-76, January.
    10. Phelan Christopher, 1995. "Repeated Moral Hazard and One-Sided Commitment," Journal of Economic Theory, Elsevier, vol. 66(2), pages 488-506, August.
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    Keywords

    Income distribution;

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