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Macroeconomics, Human Development, and Distribution

Macroeconomics, Human Development, and Distribution Policies designed to pursue an equity-led macroeconomic growth strategy must take into account feedback effects, with distribution itself influencing macroeconomic outcomes. Under the right conditions, a more equitable distribution of income and opportunities in the form of human development can be a stimulus to growth, funding further investments in human development. Developing the policies to create those conditions is the central challenge for any human development-centered macroeconomic framework. I review here some macro-level policies that achieve this goal, identifying a key role for fiscal policy to raise productivity and for monetary policy to expand employment, a central goal of any macro-inclusive strategy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Human Development and Capabilities Taylor & Francis

Macroeconomics, Human Development, and Distribution

23 pages

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References (45)

Publisher
Taylor & Francis
Copyright
Copyright Human Development and Capability Association
ISSN
1945-2837
eISSN
1945-2829
DOI
10.1080/19452829.2011.637376
Publisher site
See Article on Publisher Site

Abstract

Policies designed to pursue an equity-led macroeconomic growth strategy must take into account feedback effects, with distribution itself influencing macroeconomic outcomes. Under the right conditions, a more equitable distribution of income and opportunities in the form of human development can be a stimulus to growth, funding further investments in human development. Developing the policies to create those conditions is the central challenge for any human development-centered macroeconomic framework. I review here some macro-level policies that achieve this goal, identifying a key role for fiscal policy to raise productivity and for monetary policy to expand employment, a central goal of any macro-inclusive strategy.

Journal

Journal of Human Development and CapabilitiesTaylor & Francis

Published: Feb 1, 2012

Keywords: Income distribution; Public investment; Equality; Human development; Macroeconomic policy

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