eprintid: 3888
rev_number: 6
eprint_status: archive
userid: 69
dir: disk0/00/00/38/88
datestamp: 2018-01-24 12:24:10
lastmod: 2018-01-24 12:24:10
status_changed: 2018-01-24 12:24:10
type: article
metadata_visibility: show
creators_name: Bilancini, Ennio
creators_name: D'Alessandro, Simone
creators_id: ennio.bilancini@imtlucca.it
creators_id: 
title: Functional Distribution, Land Ownership and Industrial Takeoff: The Role of Effective Demand
ispublished: pub
subjects: HB
subjects: HD
divisions: EIC
full_text_status: none
keywords: industrialization; increasing returns; effective demand; functional distribution; land ownership
abstract: n this paper we analyse how the distribution of land property rights affects industrial takeoff and aggregate income through its impact on effective demand. We apply a modified version of the model provided in Murphy et al. (1989, QJE) which allows us to analyse the role of land distribution when it is independent of the distribution of firm ownership. We extend the result of Murphy et al. (1989, QJE) by showing that industrialization and income depend non-monotonically on the distribution of land and by demonstrating that this result is due to the way land distribution affects the distribution of profits among firms. Moreover, we show that there may be a tradeoff between industrialization and income, the latter being associated with a distribution of land which is more equal than that associated with maximum industrialization.
date: 2008
date_type: published
publication: The B.E. Journal of Economic Analysis & Policy
volume: 8
number: 1
publisher: De Gruyter
id_number: doi:10.2202/1935-1682.1912
refereed: TRUE
issn: 1935-1682
official_url: http://doi.org/10.2202/1935-1682.1912
citation:   Bilancini, Ennio and D'Alessandro, Simone  Functional Distribution, Land Ownership and Industrial Takeoff: The Role of Effective Demand.  The B.E. Journal of Economic Analysis & Policy, 8 (1).   ISSN 1935-1682      (2008)