Consumption Structure and Macroeconomics (eBook)

Structural Change and the Relationship Between Inequality and Growth

Reto Foellmi (Autor)

eBook Download: PDF

2006 | 2005
X, 154 Seiten
Springer Berlin (Verlag)
978-3-540-28513-7 (ISBN)

Infos

This book offers a novel perspective that allows to incorporate changing consumption and production structure into models of economic growth. Starting from the empirical observation that income and consumption structure are closely related, it develops a tractable theoretical framework which enables to analyze macroeconomic models consistent with these empirical facts. As a result, central macroeconomic phenomena are better understood: the reasons behind long-run growth, structural change, and the influence of inequality on innovations and growth.

Inhalt

Preface 5
Contents 7
Introduction 10
Hierarchic Preferences 17
2.1 Basic Set- up 17
2.2 Hierarchy and CRRA 28
2.3 Non- Homothetic Utility in the Previous Theoretical Literature 31
2.4 Appendix 34
Structural Change and Balanced Growth 39
3.1 Introduction 39
3.2 Static Equilibrium 44
3.3 Dynamics of the Economy 48
3.4 Equilibrium Growth Path 51
3.5 Structural Change and the Kaldor Facts 57
3.6 Calibration 65
3.7 Other Types of Equilibria 69
3.8 Is the Optimal Patent Duration Infinite? 72
3.9 Discussion and Extensions 74
3.10 Appendix 76
Inequality and Research Incentives 83
4.1 Introduction 83
4.2 Static Equilibrium 86
4.3 Dynamics of the Economy 95
4.4 Distribution of Income and Wealth 101
4.5 General Equilibrium 102
4.6 The Impact of Inequality on Growth 111
4.7 Summary 114
4.8 Appendix 116
Markups and Exclusion 125
5.1 Introduction 125
5.2 Monopolistic Competition With Non- Homothetic Preferences 129
5.3 Symmetric versus Asymmetric Equilibria 134
5.4 Unemployment 143
5.5 Discussion 147
5.6 Appendix 149
Conclusions 151
References 154

Produkt-Details

• Erscheint lt. Verlag: 30.3.2006
• Reihe/Serie: Lecture Notes in Economics and Mathematical Systems
• Reihe/Serie: Lecture Notes in Economics and Mathematical Systems
• Zusatzinfo: X, 154 p.
• Verlagsort: Berlin
• Sprache: englisch
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: Consumption Structure • Economic Growth • Engel's Law • growth • income distribution • Preference Hierachies • Production
• ISBN-10: 3-540-28513-X / 354028513X
• ISBN-13: 978-3-540-28513-7 / 9783540285137