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 …

-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 …

easing entrepreneurial investments for credit-constrained individuals whose investment possibilities depend on their income …

Recent books by Thomas Piketty (Piketty, 2014) and Anthony Atkinson (Atkinson, 2015) have brought the annual wealth tax … back on the policy agenda. Both authors suggest using the annual wealth tax to supplement the redistributional effects of …, the wealth tax is often not delivering the expected effects - a large share of the tax burden falls on people with low …

of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … capital-income ratio, and its factor income distribution put forth in his recent book Capital in the Twenty-First Century. We …

The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the … substitute real investment by financial investment. When interest rates are expected to fall in the long term, the marginal and …

We study beliefs about wealth inequality and preferences for wealth redistribution. For this, we conduct a large …-scale online survey in Germany. First, we analyze how well participants are informed about the German wealth distribution and their … position in it. Second, we investigate how preferences for wealth redistribution are affected by an information experiment. One …

, 19th century weight was higher in states with greater average wealth and population density and lower in states with … greater wealth inequality. …

effect of the coronavirus crisis on household income and retirement wealth, households’ expectations about the recovery, and … the impact of the shock on individuals’ economic choices. Wealth shocks are large across the population, but more … pronounced for middle-age households and those higher in the wealth and income distributions. This contrasts with income shocks …