Contrary to a popular belief, the most popular Ak growth models display transitional dynamics once the representative agent and complete markets assumptions are overturned. The class of models is identified with diminishing-returns at individual but constant-returns at aggregate due to...

This paper examines the effects of a budget-neutral public spending allocation between public investment and private investment subsidy on inequality dynamics and intergenerational mobility in an environment with heterogenous households and incomplete capital market.

This paper examines the effects of a budget-neutral public spending allocation between public investment and private investment subsidy on inequality dynamics and intergenerational mobility in an environment with heterogeneous households and incomplete capital market.

L'idea di questo lavoro Š quella di tracciare un profilo del cosiddetto lavoratore povero, ovvero delle persone che pur essendo occupate, percepiscono un basso reddito, normalmente inadeguato rispetto ai bisogni di mantenimento di sŠ e dei familiari a carico. Si utilizza un semplice modello di...

The implications of individual heterogeneity for the evolution of wealth distribution are studied in a standard model of occupational choice with financial market imperfections and local non convexities in education investment technology. We consider heterogeneity in the cost of educational...

Contrary to a popular belief, the most popular Ak growth models display transitional dynamics once the representative agent and complete markets assumptions are overturned. The class of models is identied with diminishing returns at individual but constant returns at aggregate due to externality...