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Income Distribution in Macroeconomic Models

Income Distribution in Macroeconomic Models PDF Author: Giuseppe Bertola
Publisher: Princeton University Press
ISBN: 0691164592
Category : Business & Economics
Languages : en
Pages : 439
Book Description
This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

Income Distribution in Macroeconomic Models

Income Distribution in Macroeconomic Models PDF Author: Giuseppe Bertola
Publisher: Princeton University Press
ISBN: 0691164592
Category : Business & Economics
Languages : en
Pages : 439
Book Description
This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

The Impact of Macroeconomic Policies on Poverty and Income Distribution

The Impact of Macroeconomic Policies on Poverty and Income Distribution PDF Author: Maurizio Bussolo
Publisher: Palgrave Macmillan
ISBN:
Category : Business & Economics
Languages : en
Pages : 338
Book Description
This volume assembles methodologies and techniques to evaluate the poverty impact of macroeconomic policies. It deals with evaluating the impact of macro-economic policies or shocks on poverty and income distribution using cutting-edge approaches, presenting a comprehensive array of modern micro-simulation techniques.

Frontiers of Heterodox Macroeconomics

Frontiers of Heterodox Macroeconomics PDF Author: Philip Arestis
Publisher: Springer Nature
ISBN: 3030239292
Category : Political Science
Languages : en
Pages : 378
Book Description
In the past few decades, and intensified since the global financial crisis of August 2007, heterodox macroeconomics has developed apace and its scope has broadened in a number of directions. The purpose of this volume is to review the ‘state of the art’ in heterodox macroeconomics, its strengths and weaknesses and future directions. Heterodox macroeconomics has broadened its scope through gender macroeconomics, ecological macroeconomics and further incorporated income distribution and inequality into macroeconomics analysis. New macroeconomic models, particularly stock-flow consistent modelling has become a widely used mode of analysis. Money and finance, monetary policy and fiscal policy as well as other policies have been discussed widely. The focus of this edited collection is on all of these issues, with chapters focusing on inflation, ecological sustainability and regulatory policy.

The Distribution of Income and Wealth

The Distribution of Income and Wealth PDF Author: Fabio Clementi
Publisher: Springer
ISBN: 9783319801353
Category : Business & Economics
Languages : en
Pages : 177
Book Description
This book presents a systematic overview of cutting-edge research in the field of parametric modeling of personal income and wealth distribution, which allows one to represent how income/wealth is distributed within a given population. The estimated parameters may be used to gain insights into the causes of the evolution of income/wealth distribution over time, or to interpret the differences between distributions across countries. Moreover, once a given parametric model has been fitted to a data set, one can straightforwardly compute inequality and poverty measures. Finally, estimated parameters may be used in empirical modeling of the impact of macroeconomic conditions on the evolution of personal income/wealth distribution. In reviewing the state of the art in the field, the authors provide a thorough discussion of parametric models belonging to the “κ-generalized” family, a new and fruitful set of statistical models for the size distribution of income and wealth that they have developed over several years of collaborative and multidisciplinary research. This book will be of interest to all who share the belief that problems of income and wealth distribution merit detailed conceptual and methodological attention.

Income Distribution, Inflation, and Growth

Income Distribution, Inflation, and Growth PDF Author: Lance Taylor
Publisher: MIT Press
ISBN: 9780262700450
Category : Business & Economics
Languages : en
Pages : 316
Book Description
Structuralist macroeconomics has emerged recently as the only viable theoreticalalternative for economists and practitioners in developing countries. Lance Taylor's innovative workrepresents a landmark in this field. It codifies a new generation of structuralist macroeconomicmodels that incorporate the economic power relationships of key institutions and groups, integratesboth finance and real macroeconomics, and covers a diverse range of experience in the developingworld over the past three decades.In an introduction Taylor explains his methodology, describesassumptions underlying the models used, and reviews theories that relate economic growth and therole of financial assets. He then takes up basic structuralist models of a closed economy and moveson to consider the open economy cases. He incorporates the latest developments in the field(inflation, financial crisis, exchange rate management, increasing returns, and the like) in atreatment that departs substantially from economic orthodoxy.Taylor first addresses the question ofhow to specify.closure" or define the causal structure of macro models. He also considers how incomeredistribution influences growth and output and how income redistribution interacts with inflation.Next, an investment-driven non-full employment growth model draws on ideas introduced earlier toillustrate how different sorts of macroeconomic policies affect short-run adjustment and growthprospects over time. Taylor then turns to the problems proposed by economic openness in a stylizedsemi-industrialized country, starting with international trade. A fix-price/flex-price model isdeveloped, and additional models demonstrate cases of policy relevance as well as interactionsbetween class conflict and growth.Lance Taylor is Professor of Economics at MIT.

Income Distribution

Income Distribution PDF Author: Fred Campano
Publisher: Oxford University Press on Demand
ISBN: 0195300912
Category : Business & Economics
Languages : en
Pages : 185
Book Description
'Income Distribution' was written primarily as a textbook intended for undergraduate economics majors. Each chapter is logically connected with the preceding chapters, providing a general overview of income distribution and its applications.

Feedback Economics

Feedback Economics PDF Author: Robert Y. Cavana
Publisher: Springer Nature
ISBN: 3030671909
Category : Business & Economics
Languages : en
Pages : 593
Book Description
This book approaches economic problems from a systems thinking and feedback perspective. By introducing system dynamics methods (including qualitative and quantitative techniques) and computer simulation models, the respective contributions apply feedback analysis and dynamic simulation modeling to important local, national, and global economics issues and concerns. Topics covered include: an introduction to macro modeling using a system dynamics framework; a system dynamics translation of the Phillips machine; a re-examination of classical economic theories from a feedback perspective; analyses of important social, ecological, and resource issues; the development of a biophysical economics module for global modelling; contributions to monetary and financial economics; analyses of macroeconomic growth, income distribution and alternative theories of well-being; and a re-examination of scenario macro modeling. The contributions also examine the philosophical differences between the economics and system dynamics communities in an effort to bridge existing gaps and compare methods. Many models and other supporting information are provided as online supplementary files. Consequently, the book appeals to students and scholars in economics, as well as to practitioners and policy analysts interested in using systems thinking and system dynamics modeling to understand and improve economic systems around the world. "Clearly, there is much space for more collaboration between the advocates of post-Keynesian economics and system dynamics! More generally, I would like to recommend this book to all scholars and practitioners interested in exploring the interface and synergies between economics, system dynamics, and feedback thinking." Comments in the Foreword by Marc Lavoie, Emeritus Professor, University of Ottawa and University of Sorbonne Paris Nord

Handbook of Income Distribution

Handbook of Income Distribution PDF Author: Anthony Barnes Atkinson
Publisher: Elsevier
ISBN: 9780444816313
Category : Business & Economics
Languages : en
Pages : 980
Book Description
Distributional issues may not have always been among the main concerns of the economic profession. Today, in the beginning of the 2000s, the position is different. During the last quarter of a century, economic growth proved to be unsteady and rather slow on average. The situation of those at the bottom ceased to improve regularly as in the preceding fast growth and full-employment period. Europe has seen prolonged unemployment and there has been widening wage dispersion in a number of OECD countries. Rising affluence in rich countries coexists, in a number of such countries, with the persistence of poverty. As a consequence, it is difficult nowadays to think of an issue ranking high in the public economic debate without some strong explicit distributive implications. Monetary policy, fiscal policy, taxes, monetary or trade union, privatisation, price and competition regulation, the future of the Welfare State are all issues which are now often perceived as conflictual because of their strong redistributive content. Economists have responded quickly to the renewed general interest in distribution, and the contents of this Handbook are very different from those which would have been included had it been written ten or twenty years ago. It has now become common to have income distribution variables playing a pivotal role in economic models. The recent interest in the relationship between growth and distribution is a good example of this. The surge of political economy in the contemporary literature is also a route by which distribution is coming to re-occupy the place it deserves. Within economics itself, the development of models of imperfect information and informational asymmetries have not only provided a means of resolving the puzzle as to why identical workers get paid different amounts, but have also caused reconsideration of the efficiency of market outcomes. These models indicate that there may not necessarily be an efficiency/equity trade-off; it may be possible to make progress on both fronts. The introduction and subsequent 14 chapters of this Handbook cover in detail all these new developments, insisting at the same time on how they tie with the previous literature on income distribution. The overall perspective is intentionally broad. As with landscapes, adopting various points of view on a given issue may often be the only way of perceiving its essence or reality. Accordingly, income distribution issues in the various chapters of this volume are considered under their theoretical or their empirical side, under a normative or a positive angle, in connection with redistribution policy, in a micro or macro-economic context, in different institutional settings, at various point of space, in a historical or contemporaneous perspective. Specialized readers will go directly to the chapter dealing with the issue or using the approach they are interested in. For them, this Handbook will be a clear and sure reference. To more patient readers who will go through various chapters of this volume, this Handbook should provide the multi-faceted view that seems necessary for a deep understanding of most issues in the field of distribution. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes

Income Distribution

Income Distribution PDF Author: Fred Campano
Publisher: Oxford University Press
ISBN: 0190293780
Category : Business & Economics
Languages : en
Pages : 192
Book Description
Income Distribution was written primarily as a textbook intended for undergraduate economics majors. The material, however, is treated with sufficient rigor to meet the needs of first year graduate students also. The book may also serve the needs of sociologists and political scientists who are primarily interested in the related social justice topics of income inequality and poverty. Each chapter is logically connected with the preceding chapters, providing a general overview of income distribution and its applications.

The Integrated Macroeconomic Model for Poverty Analysis

The Integrated Macroeconomic Model for Poverty Analysis PDF Author: Pierre-Richard Agénor
Publisher:
ISBN:
Category : Economic assistance, Domestic
Languages : en
Pages : 134
Book Description