Redistribution before growth: a theoretical model
1983
Adelman, I. | Cheng, L.
Extract: The purpose of this paper is to exhibit a simple theoretical growth model that is capable of reproducing these empirical results. The model is an extension of Stiglitz's (1967) model. It is neoclassical, not because the authors believe that the world is neoclassical but rather because, since neoclassical models are biased toward uniqueness and stability, the proof of nonuniqueness in such models is stronger than it would be otherwise.
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