Semantic Scholar Open Access 1999 1999 sitasi

Inequality and Economic Growth: The Perspective of the New Growth Theories

P. Aghion Eve Caroli C. García-Peñalosa

Lihat Sumber DOI

Abstrak

We analyze the relationship between inequality and economic growth from two directions. The first part of the survey examines the effect of inequality on growth, showing that when capital markets are imperfect, there is not necessarily a trade-off between equity and efficiency. It therefore provides an explanation for two recent empirical findings, namely, the negative impact of inequality and the positive effect of redistribution upon growth. The second part analyzes several mechanisms whereby growth may increase wage inequality, both across and within education cohorts. Technical change, and in particular the implementation of "General Purpose Technologies," stands as a crucial factor in explaining the recent upsurge in wage inequality.

Topik & Kata Kunci

Economics

Penulis (3)

P. Aghion

Eve Caroli

C. García-Peñalosa

Format Sitasi

APA MLA BibTeX

Aghion, P., Caroli, E., García-Peñalosa, C. (1999). Inequality and Economic Growth: The Perspective of the New Growth Theories. https://doi.org/10.1257/JEL.37.4.1615

Akses Cepat

Lihat di Sumber doi.org/10.1257/JEL.37.4.1615

Informasi Jurnal

Tahun Terbit: 1999
Bahasa: en
Total Sitasi: 1999×
Sumber Database: Semantic Scholar
DOI: 10.1257/JEL.37.4.1615
Akses: Open Access ✓