NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Product Cycle and Inequality

Boyan Jovanovic

NBER Working Paper No. 10910
Issued in November 2004
NBER Program(s):Economic Fluctuations and Growth, Productivity, Innovation, and Entrepreneurship

This paper models the product cycle and explains how it relates to world inequality. In the model, both phenomena arise because skilled people have a comparative advantage in making high-tech products. The model can explain up to a 10:1 income differential between people and up to a 7:1 differential between countries.

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Document Object Identifier (DOI): 10.3386/w10910

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