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Poverty and Disequalization
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1. Januar 2010
We study the intergenerational transmission of inequality using a model in which parents can make both financial and occupational bequests to their children. An equal steady state with high per capita skill can co-exist with unequal steady states with low per capita skill. We investigate dynamics starting from arbitrary initial conditions. The main result is that even if a country starts with a perfectly equal wealth distribution, it converges to an unequal steady state if its initial per capita wealth falls below a threshold, and to the equal steady state otherwise. Hence initial poverty (even with perfect equality) can generate long-term inequality, and undermine economic development.
Published Online: 2010-1-1
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Artikel in diesem Heft
- Research Foundation
- Democracy, Autocracy and Bureaucracy
- Incomes in South Africa after the Fall of Apartheid
- Poverty and Disequalization
- Dysfunctional Finance: Positive Shocks and Negative Outcomes
- Policy Analysis
- Impact of Political Reservations in West Bengal Local Governments on Anti-Poverty Targeting
- Rethinking Global Economic and Social Governance
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- International Rules for Trade in Natural Resources
- Macro Crises and Targeting Transfers to the Poor
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- Symposium: The Return of Counter-cyclical Policy - Editorial Preface
- Asia: Counter-Cyclical Policies: Indian Experience and Some General Observations
- Asia: China's Policy Responses to the Global Financial Crisis
- Latin America: Counter-Cyclical Policy in Brazil: 2008-09
- Latin America: The Structural Fiscal Balance Policy in Chile: A Move Toward Counter-Cyclical Macroeconomics
- Latin America: Comments on Financial Regulation and International Capital Flows in Latin America
- Africa: Africa's Counter-Cyclical Policy Responses to the Crisis
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