The Concept of Income in a General Equilibrium
The Concept of Income in a General Equilibrium
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一般均衡中的收入概念
DOI:
10.1111/j.1467-937x.2006.00375.x
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发表时间:
2006
期刊:
影响因子:
--
通讯作者:
M. Weale
中科院分区:
文献类型:
--
作者:
J. Sefton;M. Weale
This paper derives a concept of aggregate real income for a competitive economy in general equilibrium consisting of heterogeneous infinitely lived people and relates it to current and future consumption possibilities. An important characteristic of our measure of income, which we call Real Income, is that deflation is carried out using a consumption deflator rather than any price index of output. We suggest that it may be inappropriate to regard capital gains as income. We also present a coherent treatment of the effects of changes to the terms of trade on Real Income and explain the implications of this for resource-exporting economies. Copyright 2006, Wiley-Blackwell.