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

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

We provide evidence that the distributions of consumption, labor income, wealth, and capital income exhibit asymptotic … magnitudes of these four tails simultaneously. Mechanisms addressing the wealth concentration puzzle in these models through … Pareto tails by positing a combination of non-homothetic, wealth-dependent preferences and scale-dependent returns to capital …

We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a … utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …