NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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François Bourguignon

Paris School of Economics
48 Boulevard Jourdan
75014 Paris, France

E-Mail: francois.bourguignon@psemail.eu
Institutional Affiliation: Paris School of Economics

NBER Working Papers and Publications

April 1989Adjustment and Income Distribution: A Counterfactual Analysis
with William H. Branson, Jaime de Melo: w2943
This paper presents a structural macro simulation model to quantify the effects of alternative stabilization packages on the distribution of income and wealth. The model combines the explicit microeconomic optimizing behavior characteristic of computable general equilibrium models with asset portfolio behavior of macroeconomic models in Tobin's tradition. In this model there are four main mechanisms by which policy changes affect the distribution of income and wealth. First changes in factor rewards affect directly household income distribution. Second, household real incomes are affected by changes in their respective cost of living indexes. Third, household real incomes are affected by changes in real returns on financial assets since household incomes include income from financial holdi...

Published: Bourguignon, F., W. H. Branson and J. De Melo. "Adjustment And Income Distribution: A Micro-Macro Model For Counter-Factual Analysis," Journal of Development Economics, 1992, v38(1), 17-40.

 
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