Discrimination and Inequality in an Integrated Walrasian-General-Equilibrium and Neoclassical-Growth Theory

Discrimination and Inequality in an Integrated Walrasian- General-equilibrium and Neoclassical-growth Theory

The purpose of this study is to examine dynamic interdependence between economic development, wealth and income distributions, and discrimination in an integrated Walrasian-general-equilibrium and neoclassical-growth theory. We build a dynamic economy with one consumer goods sector, one capital goods sector, and heterogeneous households. We build a model in which wealth accumulation, income and...

Economic Growth and Structural Change – a Synthesis of the Walrasian General Equilibrium, Ricardian Distribution and Neoclassical Growth Theories

JEL Classification: D31, O41. This study proposes an economic growth model of structural change with heterogeneous households. It endogenously determine wealth accumulation and land value. Our model is based on three core theories in economics Walrasian general equilibrium theory, Ricardian theory of distribution, and neoclassical growth theory. The paper is focused on effects of changes in det...

A Study of the Role of Government in Income and Wealth Distribution by Integrating the Walrasian General Equilibrium and Neoclassical Growth Theories

This paper proposes a growth model of heterogeneous households with economic structure, wealth accumulation, endogenous labour supply, and tax rates. The paper is focused on effects of redistribution policies on income and wealth distribution, economic structure and economic growth. The paper integrates the Walrasian general equilibrium theory and neoclassical economic growth within a comprehen...

Equilibrium portfolios in the neoclassical growth model

This paper studies equilibrium portfolios in the traditional neoclassical growth model under uncertainty with heterogeneous agents and dynamically complete markets. Preferences are restricted to be quasi-homothetic. Heterogeneity across agents is due to two reasons. First, agents may have di¤erent shares of the representative ...rm at date 0. Secondly, agents may also have di¤erent preferences ...

The Rise and Fall of Walrasian General Equilibrium Theory: The Keynes Effect