Growth and redistribution: the hedging perspective
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F25%3A00603443" target="_blank" >RIV/67985998:_____/25:00603443 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11620/25:10490549
Result on the web
<a href="https://doi.org/10.1257/aeri.20240456" target="_blank" >https://doi.org/10.1257/aeri.20240456</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1257/aeri.20240456" target="_blank" >10.1257/aeri.20240456</a>
Alternative languages
Result language
angličtina
Original language name
Growth and redistribution: the hedging perspective
Original language description
We investigate the impact of wealth redistribution on economic growth, building on Kelly’s (1956) optimal investment portfolio theory. A growthoptimal policy redistributes wealth from ’lucky’ overperforming individuals to underperforming ones, minimizing the systematic component of this redistribution in a myopic fashion. That is, the optimal policy minimizes the discrepancy between endowments and outcomes, counterfactually taking outcomes as independent of endowments. The myopia in this result follows from a decoupling argument that allows us to model the planner as independently choosing a growth-maximizing policy and a pattern of wealth circulation.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
<a href="/en/project/GA24-10145S" target="_blank" >GA24-10145S: Behavioral Economic Theory</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
American Economic Review: Insights
ISSN
2640-205X
e-ISSN
2640-2068
Volume of the periodical
7
Issue of the periodical within the volume
2
Country of publishing house
US - UNITED STATES
Number of pages
18
Pages from-to
250-267
UT code for WoS article
001530559500007
EID of the result in the Scopus database
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