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‘Vulgar economy’ in the theory of income distribution

✍ Scribed by M. Nuti


Publisher
Springer
Year
1970
Tongue
English
Weight
381 KB
Volume
118
Category
Article
ISSN
0013-063X

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## Abstract In this paper, we propose a model of income dynamics which takes account of mobility both within and between jobs. The model is a hybrid of the mover‐stayer model of income dynamics and a geometric random walk. In any period, individuals face a discrete probability of ‘moving’, in which