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- W1496202493 abstract "To analyze the impact of alternative macroeconomic adjustment mechanisms on the distribution of income in developing countries, we construct a CGE model that is general enough to incorporate neoclassical, neo-Keynesian, and a variety of structuralist macro closure rules. The model is applied to two economies, Brazil and Korea, with alternative macro closures both for savings-investment and for the balance of trade. We find that (1) the size distribution of income is largely insensitive to macro closure rules, (2) the functional distribution is very sensitive to macro closure rules, and (3) the balance-of-trade closure is at least as important in determining distributional outcomes as the savings-investment closure." @default.
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- W1496202493 date "1988-07-01" @default.
- W1496202493 modified "2023-10-16" @default.
- W1496202493 title "Macroeconomic adjustment and income distribution" @default.
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- W1496202493 doi "https://doi.org/10.1016/0304-3878(88)90069-7" @default.
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