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https://hdl.handle.net/10419/21124
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
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dc.contributor.author | Saint-Paul, Gilles | en |
dc.date.accessioned | 2009-01-28T16:19:39Z | - |
dc.date.available | 2009-01-28T16:19:39Z | - |
dc.date.issued | 2001 | - |
dc.identifier.uri | http://hdl.handle.net/10419/21124 | - |
dc.description.abstract | This paper studies a model of the distribution of income under bounded needs. Utility derivedfrom any given good reaches a bliss point at a finite consumption level of that good. On the otherhand, introducing new varieties always increases utility. It is assumed that each variety is ownedby a monopoly. Workers can specialize in material goods production or in the knowledge sector,which designs new varieties. It is shown that if the elasticity of labor supply to the knowledgesector is bounded, as productivity increases, the economy moves from a ?Solovian zone? wherewages increase with productivity, to a ?Marxian? zone where the paradoxically decline withproductivity. This is because as consumption of a given good increases, the price elasticity ofdemand falls, and markups increase to infinity as consumption reaches the unit elasticity point.Such a point typically exists because of the finiteness of needs. It is also shown that if individualcreativity is more unevenly distributed then productivity, technical progress always increasesinequality. Redistribution from profits to workers in the production sector always benefitsarbitrarily poor workers regardless of their distortionary effect on the number of varieties,because diversity is not valued by very poor agents. In contrast, rich agents close enough totheir bliss point can only be made better-off by an increase in diversity. If wages are set bymonopoly unions rather than set competitively, they are proportional to productivity and theMarxian zone no longer exists. But technical progress always reduces employment in thematerial goods sector. International trade may reduce wages in poor countries and increasethem in rich countries if under autarky the former consume less of each good that the latter. | en |
dc.language.iso | eng | en |
dc.publisher | |aInstitute for the Study of Labor (IZA) |cBonn | en |
dc.relation.ispartofseries | |aIZA Discussion Papers |x273 | en |
dc.subject.jel | D42 | en |
dc.subject.jel | E11 | en |
dc.subject.jel | O14 | en |
dc.subject.jel | E24 | en |
dc.subject.jel | F15 | en |
dc.subject.jel | D3 | en |
dc.subject.jel | O15 | en |
dc.subject.jel | J31 | en |
dc.subject.jel | E25 | en |
dc.subject.jel | L12 | en |
dc.subject.jel | O3 | en |
dc.subject.jel | O41 | en |
dc.subject.jel | F12 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Income distribution | en |
dc.subject.keyword | innovation | en |
dc.subject.keyword | knowledge economy | en |
dc.subject.keyword | economic growth | en |
dc.subject.keyword | technical change | en |
dc.subject.keyword | wages | en |
dc.subject.keyword | Research and Development | en |
dc.subject.stw | Verteilungstheorie | en |
dc.subject.stw | Neue Wachstumstheorie | en |
dc.subject.stw | Mehr-Sektoren-Modell | en |
dc.subject.stw | Technischer Fortschritt | en |
dc.subject.stw | Produktivität | en |
dc.subject.stw | Lohn | en |
dc.subject.stw | Grenznutzentheorie | en |
dc.subject.stw | Mehrwerttheorie | en |
dc.subject.stw | Steady-State-Wachstum | en |
dc.subject.stw | Monopol | en |
dc.subject.stw | Offene Volkswirtschaft | en |
dc.subject.stw | Theorie | en |
dc.title | Distribution and Growth in an Economy with Limited Needs | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 843856971 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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