Dynamic equilibria with unemployment due to undernourishment

Debraj Ray; Peter A. Streufert

doi:10.1007/BF01213692

Dynamic equilibria with unemployment due to undernourishment

Debraj Ray, Peter A. Streufert

Research output: Contribution to journal › Article › peer-review

Abstract

We provide characterization and stability results for the stationary equilibria of a competitive infinite-horizon model that incorporates the nutritional requirements of physical labor. We find that for many aggregate land stocks, there is a large continuum of stationary equilibrium unemployment rates. Since unemployment can be seen to stem from inequality in the initial distribution of land ownership, we suggest that certain land reforms can reduce unemployment.

Original language	English (US)
Pages (from-to)	61-85
Number of pages	25
Journal	Economic Theory
Volume	3
Issue number	1
DOIs	https://doi.org/10.1007/BF01213692
State	Published - Mar 1993

ASJC Scopus subject areas

Economics and Econometrics

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abstract = "We provide characterization and stability results for the stationary equilibria of a competitive infinite-horizon model that incorporates the nutritional requirements of physical labor. We find that for many aggregate land stocks, there is a large continuum of stationary equilibrium unemployment rates. Since unemployment can be seen to stem from inequality in the initial distribution of land ownership, we suggest that certain land reforms can reduce unemployment.",

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Dynamic equilibria with unemployment due to undernourishment

Abstract

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