Browse

Distributional Implications of Imperfect Capital Markets

Cited 0 time in Web of Science Cited 0 time in Scopus
Authors
Lee, Joon Koo
Issue Date
1982-06
Publisher
서울대학교 경제연구소
Citation
경제논집, Vol.21 No.2, pp. 219-248
Abstract
Although a satisfactory theory of the distribution of income is yet to come,

significant progress has been made toward that goal by a series of attempts to

establish general theories of income distribution by combining existing piecemeal

theories into single synthetic models. One such example is Blinder’'s [6]

work which incorporates various elements of piecemeal theories. One of his

main conclusions is that inequality in income should not be ascribed to any

single factor, but should be conceived as resulting from the optimizing behavior

of individuals which can be affected by a number of factors. There is one

potential cause of inequality, however, which evaded his attention totally:

imperfect capital markets. Different income classes would be affected differentially

by the imperfection in capital markets.
ISSN
1738-1150
Language
English
URI
http://hdl.handle.net/10371/62968
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)경제논집경제논집 vol.21 (1982)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse