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| Kazuo Mino |
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| ''On the stationary distribution of income and wealth in a growing economy with endogenous labor supply'' |
| ( 2023, Vol. 43 No.1 ) |
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| In the context of a perpetual youth model with capital, we explore the effect of the labor supply behavior of households on the stationary distributions of income and wealth. Assuming that the households have Greenwood--Hercowitz--Huffman preferences, we show that inequality in income and wealth distributions increase with the elasticity of labor supply. |
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| Keywords: capital accumulation, endogenous labor supply, wealth inequity, Pareto distribution |
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
O4 - Economic Growth and Aggregate Productivity: General |
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| Manuscript Received : Oct 23 2022 | | Manuscript Accepted : Mar 30 2023 |
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