2012 Fiscal Year Final Research Report
Theoretical investigations on the medium-run and long-run relationship between economic growth and income distribution in unbalanced growth models
| Project/Area Number |
22530180
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Kobe University |
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Principal Investigator |
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| Project Period (FY) |
2010 – 2012
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| Keywords | 不均衡成長 / 不確実性 / 危険回避 / 人的資本投資 / 所得格差 |
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| Research Abstract |
As an engine of economic growth as well as in the distribution of income that is the fruits of economic growth, the role of human capital accumulation has been increasing. Hence, constructing a growth model with human and physical capital accumulation, we have provided a policy rule that ensures the optimal resource allocation between human and physical capital. Also, we have pointed out that a skill-premium puzzle, which is characterized by an increase in income inequality withincreased skill-labor supply, takes place when the cost of human capital investment (or skill-acquisition cost) changes with technical progress. In addition, it is shown that an increase in uncertainty on human capital investment costs tends to fix inequality over generations.
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Research Products
(11 results)
