Koopmans recursive preferences and income convergence

Article Abstract:

The many-agent Ramsey model (MARM) without integrated capital markets (ICM) gives income convergence. Analysis indicates that the problem with the original Ramey model may not be that it is special case of Koopmans recursive preferences, but rather it is an instance of Koopmans recursive preferences.

Convergence (Mathematics), Discount rates

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A metric for assessing the "goodness" of income distributions and the effect of price changes

Article Abstract:

A metric for assessing the "goodness" of particular income distributions is proposed. It is used to study the effect of price changes on the "goodness" of a given distribution keeping in mind that social welfare evaluation depends on value judgments as to income distribution.

Value added

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Welfare comparisons with bounded equivalence scales

Article Abstract:

Two criteria to compare income distribution for heterogenous population are considered. The first criterion utilizes equivalence scale that is axiomatized by Ebert. The second criterion makes use of dominance inspired from Atkinson and Bourguignon.

United States, Evaluation, Comparative analysis

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