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- W2132500484 abstract "Within the context of the neoclassical growth model I investigate the implications of (initial) endowment inequality when the rich have a higher marginal savings rate than the poor. More unequal societies grow faster in the transition process, and therefore exhibit a higher speed of convergence. Furthermore, there is divergence in consumption and lifetime wealth if the rich exhibit a higher intertemporal elasticity of substitution. Unlike the Solow-Stiglitz model, the steady state is always unique although the consumption function is concave." @default.
- W2132500484 created "2016-06-24" @default.
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- W2132500484 date "2008-11-22" @default.
- W2132500484 modified "2023-09-23" @default.
- W2132500484 title "Inequality and Aggregate Savings in the Neoclassical Growth Model" @default.
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- W2132500484 doi "https://doi.org/10.5167/uzh-52348" @default.
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