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Endogenous Redistributive Cycles — An Overlapping Generations Approach to Social Conflict and Cyclical Growth

  • This paper discusses the emergence of endogenous redistributive cycles in a stochastic growth model with incomplete asset markets and heterogeneous agents, where agents vote on the degree of progressivity in the taxñtransferñscheme. The model draws from BÈnabou (1996) and ties the bias in the distribution of political power to the degree of inequality in the society, thereby triggering redistributive cycles which then give rise to a nonlinear, cyclical pattern of savings rates, growth and inequality over time.

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Author:Christiane Clemens, Maik Heinemann
URL: https://pub-data.leuphana.de/frontdoor/index/index/docId/358
Series (Serial Number):University of Lüneburg Working paper series in economics (5)
Document Type:ResearchPaper
Year of Completion:2005
Date of Publication (online):2005/07/06
Release Date:2005/07/06
Tag:Hopf bifurcation; Inequality; growth; political cycles; redistribution
GND Keyword:Hopf-Verzweigung; Wachstum; Umverteilung; Politischer Konjunkturzyklus
Institutes:Universität / Frühere Fachbereiche
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft