Enterprise, Inequality and Economic Development
构建了一个均衡发展模型，研究财富分布、信贷约束与企业家技能分布的相互作用如何驱动经济发展，并解释收入不平等如何呈现库兹涅茨曲线或长期分配周期。
We characterize an equilibrium development process driven by the interaction of the distribution of wealth with credit constraints and the distribution of entrepreneurial skills. When efficient entrepreneurs are relatively abundant, a "traditional" development process emerges in which the evolution of macroeconomic variables accord with empirical regularities and income inequality traces out a Kuznets curve. If, instead, efficient entrepreneurs are relatively scarce, the model generates long-run "distributional cycles" driven by the endogenous interaction between credit constraints, entrepreneurial efficiency and equilibrium wages.