By Reto Foellmi

This publication deals a unique point of view that enables to include altering intake and construction constitution into versions of monetary progress. ranging from the empirical commentary that source of revenue and intake constitution are heavily similar, it develops a tractable theoretical framework which allows to research macroeconomic types in step with those empirical proof. for that reason, crucial macroeconomic phenomena are greater understood: the explanations at the back of long-run progress, structural swap, and the impression of inequality on options and growth.

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