Talent, Growth and Income Distribution
构建了一个包含异质性个体和代际遗产的模型，分析收入分配和教育选择，发现信贷市场不完善影响人才配置，而人才配置又通过代际干中学效应影响生产水平和增长率。
A model with heterogeneous individuals and bequests between generations is constructed to analyze income distribution and educational choice. The introduction of an imperfection in the credit market is shown to influence the allocation of talent. Both ability and bequest are of relevance in deciding whether or not to invest in education. With learning by doing between generations, the allocation of talent affects not only the level of production but also the growth rate. Copyright 1993 by The editors of the Scandinavian Journal of Economics.