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Income Distribution and Macroeconomics: Convex Technology and the Role of Intergenerational Transfers
2000
Social Science Research Network
I show that non-convexities in technology, assumed in the capital market imperfection literature on the relationship between income distribution and economic growth, can be replaced by an assumption that the bequest function is convex with respect to income.
doi:10.2139/ssrn.254448
fatcat:lqcpjz7yonhenbsxtdsg4s6n3u