Julius Silver Professor, Faculty of Arts and Science, and
Professor of Economics, New York University
Research Associate, NBER
Part-Time Professor, University of Warwick
Council Member, Game Theory Society
Research Fellow, CESifo
Board Member, BREAD and ThReD
Researcher in Residence, ESOP

Department of EconomicsNYU, 19 West 4th Street
New York, NY 10012, U.S.A.
debraj.ray@nyu.edu, +1 (212)-998-8906.

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Three Randomly Selected Papers
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Inequality as a Determinant of Malnutrition and Unemployment, II. Policy

(with Partha Dasgupta), Economic Journal 97, 177-188, 1987.

Summary. This is the second part of a two-part article which develops a theory of involuntary unemployment and the incidence of undernourishment, relates these in turn to the production and distribution of income, and ultimately to the distribution of productive assets. In this part, we study policy options such as land reform.

Inequality and Markets: Some Implications of Occupational Diversity

(with Dilip Mookherjee), American Economic Journal Microeconomic2 38–76, 2010.

SummaryThis paper studies income distribution in an economy with borrowing constraints. If the span of occupational investments is large, long-run wealth distributions display persistent inequality. With a “rich” set of occupations, so that training costs form an interval, the distribution is unique and the average return to education must rise with educational investment. 

Inequality as a Determinant of Malnutrition and Unemployment, I. Theory

(with Partha Dasgupta), Economic Journal 96, 1011-1034, 1986.

Summary. This is the first part of a two-part article which develops a theory of involuntary unemployment and the incidence of undernourishment, relates these in turn to the production and distribution of income, and ultimately to the distribution of productive assets. In this part, we study the general equilibrium of such a framework and describe its properties.