Karni, Edi; Zilcha, Itzhak Technological progress and income inequality. (English) Zbl 0821.90030 Econ. Theory 5, No. 2, 277-294 (1995). Summary: This paper examines the effects of Hicks-neutral, Harrod-neutral, and Solow-neutral technological improvements on the distribution of income in an overlapping generations economy with endogenous labor supply and a bequest motive. Income inequality in this model is generated by a stochastic process representing random variations in intergenerational transfers and pure luck. The comparative dynamics analysis trace the effects of the aforementioned technological changes in each and every period after they occur. These effects depend on the nature of the technological change and on the elasticity of substitution. Cited in 2 Documents MSC: 91B82 Statistical methods; economic indices and measures 93E03 Stochastic systems in control theory (general) 91B42 Consumer behavior, demand theory 91B50 General equilibrium theory 91B62 Economic growth models Keywords:Hicks-neutral, Harrod-neutral, and Solow-neutral technological improvements; overlapping generations economy; endogenous labor supply; stochastic process; income inequality PDFBibTeX XMLCite \textit{E. Karni} and \textit{I. Zilcha}, Econ. Theory 5, No. 2, 277--294 (1995; Zbl 0821.90030) Full Text: DOI References: [1] Abel, A.B.: Capital accumulation and uncertain lifetimes with adverse selection. Econometrica54, 1079-1088 (1986) · Zbl 0603.90014 · doi:10.2307/1912323 [2] Allen, R.G.D.: Mathematical Analysis for Economists. New York: St. Martin’s Press 1938 · Zbl 0021.34401 [3] Atkinson, A.: On the measurement of inequality. J. Econ. Theory2, 244-63 (1970) · doi:10.1016/0022-0531(70)90039-6 [4] Barro, R.: Are government bonds net wealth? J. Polit. Econ.82, 1095-1117 (1974) · doi:10.1086/260266 [5] Bernheim, D.: Intergenerational altruism, dynastic equilibria, and social welfare. Rev. Econ. Stud.56, 119-128 (1989) · Zbl 0672.90027 · doi:10.2307/2297753 [6] Blinder, A.S.: Toward an Economic Theory of Income Distribution. Cambridge, Massachusetts: The MIT Press: 1974 [7] Diamond, P.: National debt in a neoclassical growth model. Amer. Econ. Rev.55, 1126-50 (1965) [8] Fischer, S.: A life cycle model of life insurance purchases. Intern. Econ. Rev.14, 132-152 (1973) · doi:10.2307/2526049 [9] Hakansson, N.H.: Optimal consumption and investment strategies under risk, an uncertain lifetime, and insurance. Intern. Econ. Rev.10, 443-466 (1969) · Zbl 0195.21902 · doi:10.2307/2525655 This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. In some cases that data have been complemented/enhanced by data from zbMATH Open. This attempts to reflect the references listed in the original paper as accurately as possible without claiming completeness or a perfect matching.