This paper establishes a theoretical framework addressing the long-debated issue of efficiency and equity. Empirical evidence shows that a comparative-advantage-following development strategy promotes growth and narrows the income gap, achieving both efficiency in production and equity in income...

Despite a growing literature on population aging, empirical studies exploring mechanisms between aging and income inequality are scarce. This paper estimates the impact of aging on inequality via the perspective of labor income share, based on cross-country information covering the period...

Research has not yet been undertaken on the optimal level of urbanization, notwithstanding the pioneering work of Au and Henderson (2006) on optimal urban concentration. This paper develops two-sector general equilibrium models of urbanization, with and without equity consideration,...

This study explores the relationship between inequality and structural transformation by constructing a theoretical model, developing analytical frameworks, and implementing a case study. The general equilibrium model we develop demonstrates that inequality exhibits an inverted U shape as...

This study explores the relationship between inequality and structural transformation by constructing a theoretical model, developing analytical frameworks, and implementing a case study. The general equilibrium model we develop demonstrates that inequality exhibits an inverted U shape as...