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dc.contributor.authorSaint-Paul, Gillesen
dc.date.accessioned2009-01-28T16:19:39Z-
dc.date.available2009-01-28T16:19:39Z-
dc.date.issued2001-
dc.identifier.urihttp://hdl.handle.net/10419/21124-
dc.description.abstractThis 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.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x273en
dc.subject.jelD42en
dc.subject.jelE11en
dc.subject.jelO14en
dc.subject.jelE24en
dc.subject.jelF15en
dc.subject.jelD3en
dc.subject.jelO15en
dc.subject.jelJ31en
dc.subject.jelE25en
dc.subject.jelL12en
dc.subject.jelO3en
dc.subject.jelO41en
dc.subject.jelF12en
dc.subject.ddc330en
dc.subject.keywordIncome distributionen
dc.subject.keywordinnovationen
dc.subject.keywordknowledge economyen
dc.subject.keywordeconomic growthen
dc.subject.keywordtechnical changeen
dc.subject.keywordwagesen
dc.subject.keywordResearch and Developmenten
dc.subject.stwVerteilungstheorieen
dc.subject.stwNeue Wachstumstheorieen
dc.subject.stwMehr-Sektoren-Modellen
dc.subject.stwTechnischer Fortschritten
dc.subject.stwProduktivitäten
dc.subject.stwLohnen
dc.subject.stwGrenznutzentheorieen
dc.subject.stwMehrwerttheorieen
dc.subject.stwSteady-State-Wachstumen
dc.subject.stwMonopolen
dc.subject.stwOffene Volkswirtschaften
dc.subject.stwTheorieen
dc.titleDistribution and Growth in an Economy with Limited Needs-
dc.typeWorking Paperen
dc.identifier.ppn843856971en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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