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dc.contributor.authorAnderson, Gordonen_US
dc.date.accessioned2012-11-23en_US
dc.date.accessioned2012-11-28T16:47:24Z-
dc.date.available2012-11-28T16:47:24Z-
dc.date.issued2012en_US
dc.identifier.citationEconomics: The Open-Access, Open-Assessment E-Journal 6 2012-42 1-44en_US
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2012-42en_US
dc.identifier.urihttp://hdl.handle.net/10419/67050-
dc.description.abstractAphorisms that 'rising tides raise all boats' or that material advances of the rich eventually 'trickle down' to the poor are really maxims regarding the nature of stochastic processes that underlay the income/wellbeing paths of groups of individuals. This paper looks at the implications for the empirical analysis of wellbeing of conventional assumptions regarding such processes which are employed by both micro and macro economists in modeling economic behavior. The implications of attributing different processes to different groups in society following the club convergence literature are also discussed. Various forms of poverty, inequality, polarization and income mobility structures are considered and much of the conventional wisdom afforded us by such aphorisms is questioned. To exemplify these ideas the results are applied to the distribution of GDP per capita in the continent of Africa.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics 2012-42en_US
dc.subject.jelC22en_US
dc.subject.jelI32en_US
dc.subject.jelD63en_US
dc.subject.jelD91en_US
dc.subject.jelO47en_US
dc.subject.ddc330en_US
dc.subject.keywordstochastic processesen_US
dc.subject.keywordpovertyen_US
dc.subject.keywordinequalityen_US
dc.subject.keywordwellbeing measurementen_US
dc.titleBoats and tides and "trickle down" theories: What economists presume about wellbeing when they employ stochastic process theory in modeling behavioren_US
dc.typeArticleen_US
dc.identifier.ppn730414035en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen_US
dc.identifier.repecRePEc:zbw:ifweej:201242-
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