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Zweimüller, Josef (1999). Schumpeterian Entrepreneurs Meet Engel's Law: The Impact of Inequality on Innovation-Driven Growth. Working paper series / Institute for Empirical Research in Economics No. 9, University of Zurich.
This paper analyzes the impact of inequality on growth when technical progress is driven by innovations and consumers have hierarchic preferences. Inequality has an impact on growth because it affects the structure and the dynamics of demand. Redistribution from very rich to very poor consumers is beneficial for growth. In general, the growth effect depends on the nature of redistribution. Due to a demand externality of R&D activities multiple equilibria are possible.
| Item Type: | Working Paper |
|---|---|
| Communities & Collections: | 03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former) |
| Dewey Decimal Classification: | 330 Economics |
| Scope: | Discipline-based scholarship (basic research) |
| Language: | English |
| Date: | May 1999 |
| Deposited On: | 29 Nov 2011 19:45 |
| Last Modified: | 08 Mar 2024 13:52 |
| Series Name: | Working paper series / Institute for Empirical Research in Economics |
| ISSN: | 1424-0459 |
| OA Status: | Green |
| Other Identification Number: | merlin-id:5849 |
Zweimüller, Josef