Distributional conflict, political cycles and growth
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Authors
This paper discusses the emergence of endogenous redistributive cycles in a stochastic growth model with incomplete asset markets and heterogeneous agents who vote on the degree of progressivity in the tax-transfer scheme. The model draws from Bénabou (in B. S. Bernanke and J. J. Rotemberg (eds), NBER Macroeconomics Annual, Vol. 11, Cambridge, MA, MIT Press, pp. 11-74) and ties the bias in the distribution of political power to the degree of inequality in the society, thereby triggering redistributive cycles which then give rise to a nonlinear, cyclical pattern of savings rates, growth and inequality over time.
Originalsprache | Englisch |
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Zeitschrift | The Manchester School |
Jahrgang | 73 |
Ausgabenummer | 4 |
Seiten (von - bis) | 500-521 |
Anzahl der Seiten | 22 |
ISSN | 1463-6786 |
DOIs | |
Publikationsstatus | Erschienen - 01.07.2005 |
- Volkswirtschaftslehre