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Poverty traps, economic inequality and delinquent incentives

Villa, Edgar and Salazar, Andrés (2013) Poverty traps, economic inequality and delinquent incentives. Cuadernos de Economía; Vol. 32, núm. 61 (2013): Edición especial: Inequality, Polarization and Social Conflict; 769-801 2248-4337 0121-4772 .

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URL oficial: http://revistas.unal.edu.co/index.php/ceconomia/ar...

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This paper explores theoretical linkages between poverty traps, economic inequalityand delinquency in a perfect competition overlapping generations model characterizedby dual legal production sectors and one illegal sector. The model positsan absence of credit for human capital accumulation, which generates barriers toskilled educational attainment. We find that the existence of a poverty trap underconditions of sufficient initial economic inequality and costly indivisible humancapital investment generates persistent delinquency in the long run. We examinesteady state changes caused by shocks that increase skilled wages or reduceland assets available to the unskilled, finding that these shocks produce outbursts of delinquency that die out later if the shocks are temporary but increases permanentlyotherwise. We also find that an increase on relative poverty has anambiguous effect on long run delinquency rates while an increased focus on lawenforcement policies, intended to increase deterrence and incapacitation, reducesdelinquency in the long run and increases wealth inequality.

Tipo de documento:Artículo - Article
Información adicional:Esta obra está bajo una licencia de Creative Commons.
Palabras clave:poverty traps, inequality, delinquency, human capital., I30, J31, K42, O11, O17
Unidad administrativa:Revistas electrónicas UN > Cuadernos de Economía
Código ID:38852
Enviado por : Dirección Nacional de Bibliotecas STECNICO
Enviado el día :03 Julio 2014 23:37
Ultima modificación:18 Agosto 2014 22:28
Ultima modificación:18 Agosto 2014 22:28
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