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Growth and distribution in an AK-model with endogenous impatience

机译：内生不耐烦的AK模型中的生长和分布

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摘要

This paper combines the classical approach to inequality, based on the division of society into classes with different saving propensities, and the social conflict approach, in which inequality inflicts costs to growth. We assume that each consumer’s discount factor is endogenously determined through two channels: (1) it is positively related to the consumer’s relative wealth, and (2) negatively affected by an aggregate measure of social conflict. Unlike in models with exogenous discount rates, steady state equilibria are indeterminate and the set of equilibria is a continuum parameterized by an index of income inequality. Under reasonable assumptions, the relationship between growth and inequality has an inverted-U shape.
机译：本文将社会不平等的经典方法（基于将社会分为具有不同储蓄倾向的阶级）和社会冲突方法（基于社会不平等为增长造成成本）相结合。我们假设每个消费者的折扣系数是通过两个渠道内生确定的：（1）与消费者的相对财富成正比，（2）社会冲突总量的负面影响。与具有外在折现率的模型不同，稳态均衡是不确定的，均衡集是由收入不平等指数参数化的连续统。在合理的假设下，增长与不平等之间的关系呈倒U型。

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