Briefing
Does Redistribution Increase Output?
Abstract: According to conventional wisdom, wealth redistribution boosts output by increasing aggregate consumption. However, while redistributive policies can have a short-run stimulative effect on consumption, their effect on output depends, potentially quite importantly, on the nature of household labor supply.
Keywords: wealth redistribution; consumption;
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https://www.richmondfed.org/-/media/richmondfedorg/publications/research/economic_brief/2017/pdf/eb_17-01.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2017
Issue: January