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Inégalités et mobilité du capital dans le modèle néo-classique à horizon infini

Author

Listed:
  • Charles Vellutini

    (MAD - Université Paris 1)

Abstract

In a two-country neoclassical infinite horizon model, we explore the social consequences of international capital mobility. By making initial conditions heterogeneous within each country, it is shown that optimal savings behavior together with capital mobility leads to opposite dynamics in respectively household wealth and income: while inequalities in income increase, wealth becomes more equally distributed. Available data provide examples of this opposition. We illustrate numerically the unequal effect of capital mobility on welfare among households. We also illustrate the fact that policies of revenue redistribution -as opposed to wealth redistribution - may well be ineffective in rendering international integration beneficial to all

Suggested Citation

  • Charles Vellutini, 1998. "Inégalités et mobilité du capital dans le modèle néo-classique à horizon infini," Cahiers de la Maison des Sciences Economiques 98006, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:98006
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