utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a … not a life-cycle model. A competitive firm produces a single good from labor and capital; the rate of return to capital …

, then a small elite will own all wealth if capitalism is left to its own devices. We formulate and calibrate a Post …If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion …-Keynesian model with an endogenous distribution of wealth between workers and capitalists which permits such a corner solution of all …

, then a small elite will own all wealth if capitalism is left to its own devices. We formulate and calibrate a Post …If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion …-Keynesian model with an endogenous distribution of wealth between workers and capitalists which permits such a corner solution of all …

We study the dynamics of capital accumulation, income inequality, capital concentration, and voting up to 1914. Based … critics. We show that changes in capital accumulation led to a rise in the capital share and income inequality, as predicted … by orthodox Marxists. But against their predictions, this did neither lead to further capital concentration nor to more …

We propose a quantitative theory of wealth creation and distribution during China's transitional growth from the early … wealth, whereas the majority working class, partly due to limited investment available from an underdeveloped financial … sector, uses housing as the main vehicle of wealth accumulation over the course of a long- time housing boom. Our …

-tax, low-regulation capitalism will generate extreme capital accumulation, and that persistent wealth equalization requires … from being dominated by elite-owned fortunes to consist mainly of popular wealth, and that capital shares in national … large shocks to capital coming from wars or progressive taxation. Instead, institutions that promote household wealth …

-tax, low-regulation capitalism will generate extreme capital accumulation, and that persistent wealth equalization requires … from being dominated by elite-owned fortunes to consist mainly of popular wealth, and that capital shares in national … large shocks to capital coming from wars or progressive taxation. Instead, institutions that promote household wealth …