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GLOBAL POVERTY REDUCTION AND PARETO-IMPROVING REDISTRIBUTION

机译:全球减贫和改善帕累托分配

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摘要

Can a transfer of wealth from the United States to the least developed countries be Pareto improving? We analyze this question in an open-economy R&D-based growth model, in which the high-income (low-income) country produces innovative (homogeneous) goods. We find that wealth redistribution to the low-income country simultaneously reduces global inequality and increases economic growth through an increase in labor supply in the high-income country. Given that the market equilibrium of R&D-based growth models is usually inefficient due to R&D externalities, the wealth redistribution may lead to a Pareto improvement, which occurs if the discount rate is sufficiently low or R&D productivity is sufficiently high.
机译:从美国向最不发达国家的财富转移能改善帕累托吗?我们在基于开放式研发的增长模型中分析此问题,在该模型中,高收入(低收入)国家生产创新(均质)商品。我们发现,将财富重新分配给低收入国家可同时减少全球不平等现象,并通过增加高收入国家的劳动力供应来促进经济增长。鉴于基于R&D的外部性,基于R&D的增长模型的市场均衡通常效率低下,如果折现率足够低或R&D生产率足够高,财富再分配可能会导致帕累托改善。

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