A Representative Consumer Theory of Distribution.

This paper shows that growth models featuring the representative consumer (RC) assumption can generate rich dynamics for the cross-sections of consumption, wealth and income. We consider a class of growth models with three sources of consumer heterogeneity : initial wealth, non-acquired skills and taste for consumption-smoothing.

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Year of publication:	1996
Authors:	Caselli, G ; Ventura, J
Institutions:	Harvard Institute for International Development (HIID), Kennedy School of Government
Subject:	CONSUMER BEHAVIOUR \| ECONOMIC GROWTH \| INCOME DISTRIBUTION \| SKILLED WORKERS

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Series:	Harvard - Institute for International Development.
Type of publication:	Book / Working Paper
Notes:	36 pages
Classification:	O4 - Economic Growth and Aggregate Productivity ; C51 - Model Construction and Estimation ; D11 - Consumer Economics: Theory ; D31 - Personal Income, Wealth and Their Distributions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005669911