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Discrimination, Income and Wealth Distribution, and Business Cycles

The USV Annals of Economics and Public Administration

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Field Value
 
Title Discrimination, Income and Wealth Distribution, and Business Cycles
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Creator Wei-Bin Zhang; APU
 
Description This study generalizes the heterogeneous-household growth model with dynamic interactions between economic growth, inequality in wealth and income, and discrimination proposed by Zhang (2017). The original model is in an integration of Walrasian-general-equilibrium theory and neoclassical-growth theory under influences of literature of economic discrimination. The economy is composed of one capital good sector, one consumer good sector, and multiple groups of households. It describes a dynamic interdependence between wealth accumulation, income and wealth distribution, time distribution and division of labor under discrimination. Our generalization is to allow all constant parameters to be time-dependent. The generalization makes the original model more robust as the current model allows us to study effects of almost any types of exogenous time-dependent perturbations on movement of the system. We provide a few examples of business cycles due to periodic exogenous shocks.
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Publisher Editura Universitatii Ştefan cel Mare din Suceava
 
Contributor —
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Date 2018-07-31
 
Type —
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Format application/pdf
 
Identifier http://www.seap.usv.ro/annals/ojs/index.php/annals/article/view/1050
 
Source The USV Annals of Economics and Public Administration; Vol 18, No 1(27) (2018); 23-35
The USV Annals of Economics and Public Administration; Vol 18, No 1(27) (2018); 23-35
 
Language en