Bandyopadhyay, Debasis; Tang, Xueli - 2011
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 … of efficiency induce a negative growth–inequality relationship, while redistribution shocks, in New Zealand’s case …