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Redistribution, Inequality, and Efficiency with Credit Constraints

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  • Stephen J. Turnovsky
  • Yoseph Y. Getachew

Abstract

We develop a model that characterizes the joint determination of income distribution and macroeconomic aggregate dynamics. We identify multiple channels through which alternative public policies such as transfers, consumption and income taxes, and public investment will affect the inequality:efficiency trade off. Some policy changes can affect net income inequality both directly, and indirectly by inducing […]

Suggested Citation

  • Stephen J. Turnovsky & Yoseph Y. Getachew, 2020. "Redistribution, Inequality, and Efficiency with Credit Constraints," Working Papers 817, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:817
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    Cited by:

    1. Cuesta, Lizeth & Ruiz, Yomara, 2021. "Efecto de la globalización sobre la desigualdad. Un estudio global para 104 países usando regresiones cuantílicas [Effect of globalization on inequality. A global study for 104 countries using quan," MPRA Paper 111022, University Library of Munich, Germany.
    2. Gupta, Sanjeev & Jalles, João Tovar, 2022. "Do tax reforms affect income distribution? Evidence from developing countries," Economic Modelling, Elsevier, vol. 110(C).
    3. Wenguang Yu & Bing Li & Xianghan Zhu, 2021. "Income Redistribution Effect of Raising the Overall Planning Level of Basic Endowment Insurance for Urban Employees in China," Sustainability, MDPI, vol. 13(2), pages 1-29, January.

    More about this item

    Keywords

    capital market; Efficiency; inequality; shocks;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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