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It is well known from nonlinear aggregation theory that distributions play a central role in the determination of aggregate relations. This paper establishes a bridge between the aggregation and the inequality and growth literature by applying a log-linear aggregation method to a simple...
Persistent link: https://www.econbiz.de/10005555988
A practical aggregation method for heterogeneous log-linear functions is presented. Inequality measures are employed in the construction of an exact representation of the aggregate behavior of an economy formed by heterogeneous log-linear agents. The exact aggregate representation derived here...
Persistent link: https://www.econbiz.de/10014122535
It is well known from nonlinear aggregation theory that cross-sectional distributions play a central role in the determination of aggregate relations. This paper establishes a bridge between the aggregation and the inequality and growth literature by applying a log-linear aggregation method to a...
Persistent link: https://www.econbiz.de/10014356855