Capital accumulation and income distribu
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GermΓ‘n Coloma
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Article
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1999
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Elsevier Science
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English
β 170 KB
This paper presents a model of an economy with two representative agents (a capitalist and a worker) who play an in"nite-horizon dynamic game about income distribution. We consider three types of equilibria, which correspond to joint price-taking (Walrasian equilibrium) and to wage-setting by either