Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory

Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory

Abstract The purpose of this study is to deal with interactions between envy, economic growth and income and wealth distribution in a heterogeneous-household growth model with economic structure. With regards to envy and its impact, this study is influenced by the economic model with envy by Gershman (2014). We deal with the (destructive) role of envy on labor supply, time distribution between labor and destructive activities, and wealth and income distribution. The model is framed in a general dynamic general equilibrium theory. The economic structure composes of one consumer goods sector and one capital goods sector. The motion is described by a set of differential equations. We simulate the movement of a three-group economy with endogenous envy. We carry out comparative dynamic analysis to show how envy and other exogenous changes affect transitory processes and equilibrium structure of the economy.

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Main Author: Zhang,Wei-Bin
Format: Digital revista
Language:English
Published: Instituto Mexicano de Ejecutivos de Finanzas A.C. 2018
Online Access:http://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S1665-53462018000400507
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spelling oai:scielo:S1665-534620180004005072019-02-09Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium TheoryZhang,Wei-Bin D31 O41 Y80 Z13 envy destructive activities neoclassical growth theory wealth accumulation Walrasian general equilibrium theory income and wealth distribution Abstract The purpose of this study is to deal with interactions between envy, economic growth and income and wealth distribution in a heterogeneous-household growth model with economic structure. With regards to envy and its impact, this study is influenced by the economic model with envy by Gershman (2014). We deal with the (destructive) role of envy on labor supply, time distribution between labor and destructive activities, and wealth and income distribution. The model is framed in a general dynamic general equilibrium theory. The economic structure composes of one consumer goods sector and one capital goods sector. The motion is described by a set of differential equations. We simulate the movement of a three-group economy with endogenous envy. We carry out comparative dynamic analysis to show how envy and other exogenous changes affect transitory processes and equilibrium structure of the economy.info:eu-repo/semantics/openAccessInstituto Mexicano de Ejecutivos de Finanzas A.C.Revista mexicana de economía y finanzas v.13 n.4 20182018-12-01info:eu-repo/semantics/articletext/htmlhttp://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S1665-53462018000400507en10.21919/remef.v13i4.336
institution SCIELO
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country México
countrycode MX
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access En linea
databasecode rev-scielo-mx
tag revista
region America del Norte
libraryname SciELO
language English
format Digital
author Zhang,Wei-Bin
spellingShingle Zhang,Wei-Bin
Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory
author_facet Zhang,Wei-Bin
author_sort Zhang,Wei-Bin
title Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory
title_short Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory
title_full Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory
title_fullStr Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory
title_full_unstemmed Envy and Inequality in Income and Wealth in a Dynamic General Equilibrium Theory
title_sort envy and inequality in income and wealth in a dynamic general equilibrium theory
description Abstract The purpose of this study is to deal with interactions between envy, economic growth and income and wealth distribution in a heterogeneous-household growth model with economic structure. With regards to envy and its impact, this study is influenced by the economic model with envy by Gershman (2014). We deal with the (destructive) role of envy on labor supply, time distribution between labor and destructive activities, and wealth and income distribution. The model is framed in a general dynamic general equilibrium theory. The economic structure composes of one consumer goods sector and one capital goods sector. The motion is described by a set of differential equations. We simulate the movement of a three-group economy with endogenous envy. We carry out comparative dynamic analysis to show how envy and other exogenous changes affect transitory processes and equilibrium structure of the economy.
publisher Instituto Mexicano de Ejecutivos de Finanzas A.C.
publishDate 2018
url http://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S1665-53462018000400507
work_keys_str_mv AT zhangweibin envyandinequalityinincomeandwealthinadynamicgeneralequilibriumtheory
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