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The Role of Freedom, Growth and Religion in the Taste for Revolution
MacCulloch, Robert; Pezzini, Silvia - Suntory and Toyota International Centres for Economics … - 2002
personal characteristics, country and year fixed effects, more freedom and economic growth both reduce revolutionary support …. Losing one level of freedom, equivalent to a shift from the US to Turkey, increases support for revolt by 4 percentage points …
Persistent link: https://www.econbiz.de/10005310342
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Roads to Equality: Wealth Distribution Dynamics with Public-Private Capital Complementarity
Ferreira, Francisco H.G. - Suntory and Toyota International Centres for Economics … - 1995
This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production function where public capital is complementary to private capital. A unique invariant steady-state distribution is derived, with three social classes: subsistence workers, 'government...
Persistent link: https://www.econbiz.de/10010720195
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Imperfect Capital Markets and Persistence of Initial Wealth Inequalities
Piketty, Thomas - Suntory and Toyota International Centres for Economics … - 1992
We consider an infinite-horizon inter-generational economy with identical agents differing only in their inherited wealth and with a constant-returns-to-scale technology using capital and labour (called "effort") and displaying a purely idiosyncratic risk. If effort is contractible, full...
Persistent link: https://www.econbiz.de/10010720201
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Roads to Equality: Wealth Distribution Dynamics with Public-Private Capital Complementarity
Ferreira, Francisco H.G. - Suntory and Toyota International Centres for Economics … - 1995
This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production function where public capital is complementary to private capital. A unique invariant steady-state distribution is derived, with three social classes: subsistence workers, 'government...
Persistent link: https://www.econbiz.de/10005797441
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Credit Rationing, Wealth Inequality, and Allocation of Talent
Ghatak, Maitreesh; Morelli, Massimo; Sjostrom, Tomas - Suntory and Toyota International Centres for Economics … - 2002
We study an economy where agents are heterogeneous in terms of observable wealth and unobservable talent. Adverse selection forces creditors to ask for collateral. We study the two-way interaction between rationing in the credit market and the wages offered in the labour market. Both pooling and...
Persistent link: https://www.econbiz.de/10005797442
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Imperfect Capital Markets and Persistence of Initial Wealth Inequalities
Piketty, Thomas - Suntory and Toyota International Centres for Economics … - 1992
We consider an infinite-horizon inter-generational economy with identical agents differing only in their inherited wealth and with a constant-returns-to-scale technology using capital and labour (called "effort") and displaying a purely idiosyncratic risk. If effort is contractible, full...
Persistent link: https://www.econbiz.de/10005310293