dc.contributor.author |
Bandyopadhyay, Debasis |
en |
dc.contributor.author |
Tang, X |
en |
dc.date.accessioned |
2012-02-27T02:07:51Z |
en |
dc.date.issued |
2011 |
en |
dc.identifier.citation |
Journal of Macroeconomics 33(1):14-32 2011 |
en |
dc.identifier.issn |
0164-0704 |
en |
dc.identifier.uri |
http://hdl.handle.net/2292/12092 |
en |
dc.description.abstract |
In this paper, a dynamic general equilibrium (DGE) model of growth–inequality relationships, with missing credit markets, knowledge spillover and self-employed agents, is calibrated to New Zealand data. The model explains how two distinct policy shocks involving redistribution and immigration imply, subsequently, two completely opposite outcomes. Agents’ inability to borrow aggravates a negative macroeconomic effect of heterogeneity on growth. Redistribution mitigates that effect but creates microeconomic disincentives on saving and work-effort. Consequently, immigration shocks that perturb variance of efficiency induce a negative growth–inequality relationship, while redistribution shocks, in New Zealand’s case, produce larger fluctuations in incentives than in macro benefits, implying a positive growth–inequality relationship. |
en |
dc.publisher |
Elsevier Inc. |
en |
dc.relation.ispartofseries |
Journal of Macroeconomics |
en |
dc.rights |
Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher.
Details obtained from http://www.sherpa.ac.uk/romeo/issn/0164-0704/ |
en |
dc.rights.uri |
https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm |
en |
dc.title |
Understanding the economic dynamics behind growth-inequality relationships |
en |
dc.type |
Journal Article |
en |
dc.identifier.doi |
10.1016/j.jmacro.2010.06.001 |
en |
pubs.issue |
1 |
en |
pubs.begin-page |
14 |
en |
pubs.volume |
33 |
en |
dc.rights.holder |
Copyright: Elsevier Inc. |
en |
pubs.end-page |
32 |
en |
pubs.publication-status |
Published |
en |
dc.rights.accessrights |
http://purl.org/eprint/accessRights/RestrictedAccess |
en |
pubs.subtype |
Article |
en |
pubs.elements-id |
98042 |
en |
pubs.org-id |
Business and Economics |
en |
pubs.org-id |
Economics |
en |
pubs.record-created-at-source-date |
2010-09-01 |
en |