Transitional Growth with Increasing Inequality and Financial Deepening

Transitional Growth with Increasing Inequality and Financial Deepening
We study models that display growth with financial deepening and increasing inequality along the way to perpetual steady state growth. A benchmark model is essentially a complete markets model but with transaction costs of financial intermediation. New proofs are required and thus provided for stochastic dynamic programming for the case of... READ MORE...

Publication date: August 2001
ISBN 9781451853100
$15.00

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