Entrepreneurs, managers and inequality
نویسندگان
چکیده
منابع مشابه
Entrepreneurs, Managers and Inequality∗
Since the 1980s, the U.S. income distribution has become considerably more concentrated toward the top while the wealth distribution has not. I argue that this can be accounted for by occupational shifts caused by the decline in tax progressivity. To show this, I construct a dynamic general equilibrium model of occupational choice which distinguishes between entrepreneurs, who run their own fir...
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When a manager, an entrepreneur and outside investors interact under asymmetric information, outsiders limit their stake to eliminate insider cheating; and entrepreneurs offer managers a contractual wage sufficient to deter cheating. When capital is too expensive, this contract is infeasible, and owner-managers rule, otherwise entrepreneurialmanagerial pairs emerge. Individuals with managerial ...
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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 ...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2019
ISSN: 1094-2025
DOI: 10.1016/j.red.2018.12.006