Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jedc.2004.03.004
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dc.titleIncome ranking and convergence with physical and human capital and income inequality
dc.contributor.authorZhang, J.
dc.date.accessioned2011-02-24T06:55:39Z
dc.date.available2011-02-24T06:55:39Z
dc.date.issued2005
dc.identifier.citationZhang, J. (2005). Income ranking and convergence with physical and human capital and income inequality. Journal of Economic Dynamics and Control 29 (3) : 547-566. ScholarBank@NUS Repository. <a href="https://doi.org/10.1016/j.jedc.2004.03.004" target="_blank">https://doi.org/10.1016/j.jedc.2004.03.004</a>
dc.identifier.issn01651889
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/20018
dc.description.abstractThis paper presents an overlapping generations model with physical and human capital and income inequality. It shows that inequality impedes output growth by directly harming capital accumulation and indirectly raising the ratio of physical to human capital. The convergence speed of output growth equals the lower of the convergence speeds of the relative capital ratio and inequality, and varies with initial states. Among economies with the same balanced growth rate but different initial income levels, the ranking of income can switch in favor of those starting from low inequality and a low ratio of physical to human capital, particularly if the growth rate converges slowly.©2004 Elsevier B.V. All rights reserved.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1016/j.jedc.2004.03.004
dc.sourceScopus
dc.subjectConvergence
dc.subjectGrowth
dc.subjectHuman capital
dc.subjectIncome inequality
dc.subjectSavings
dc.typeArticle
dc.contributor.departmentECONOMICS
dc.description.doi10.1016/j.jedc.2004.03.004
dc.description.sourcetitleJournal of Economic Dynamics and Control
dc.description.volume29
dc.description.issue3
dc.description.page547-566
dc.description.codenJEDCD
dc.identifier.isiutNOT_IN_WOS
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