Risky human capital investment, income distribution, and macroeconomic dynamics
نویسندگان
چکیده
منابع مشابه
Risky human capital investment, income distribution, and macroeconomic dynamics
This paper examines the implications of human capital risk for the relationship between inequality and economic development. It argues that due to missing insurance markets for human capital risk, the initial distribution of family wealth may play an important role for an economy’s process of development fueled by human capital accumulation. The analysis suggests that, in the absence of credit ...
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ژورنال
عنوان ژورنال: Journal of Macroeconomics
سال: 2008
ISSN: 0164-0704
DOI: 10.1016/j.jmacro.2007.01.004