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Factor income distribution and endogenous economic growth : when Piketty meets Romer
Irmen, Andreas; Tabaković, Amer - 2016
We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …
Persistent link: https://www.econbiz.de/10011568791
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Artificial intelligence, income distribution and economic growth
Gries, Thomas; Naudé, Wim - 2020
The economic impact of Artificial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard represen- tative household assumption is rejected,...
Persistent link: https://www.econbiz.de/10012438305
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020
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Factor income distribution and endogenous economic growth : when Piketty meets Romer
Irmen, Andreas; Tabakovic, Amer - 2016
Persistent link: https://www.econbiz.de/10011853082
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Does Inequality Hamper Innovation and Growth?
Caiani, Alessandro - 2017
The paper builds upon the Agent Based-Stock Flow Consistent model presented in Caiani et al. (2015) to analyze the relationship between income and wealth inequality and economic development. For this sake, the original model has been amended under three main dimensions: first, the households...
Persistent link: https://www.econbiz.de/10012969105
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011398011
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The lost race against the machine : automation, education, and inequality in an R&D-based growth model
Prettner, Klaus; Strulik, Holger - 2017
contrast to conventional wisdom, our theory predicts that faster economic growth promotes inequality. Because education and …
Persistent link: https://www.econbiz.de/10011754634
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The lost race against the machine : automation, education and inequality in an R&D-based growth model
Prettner, Klaus; Strulik, Holger - 2017
, our theory predicts that faster economic growth promotes inequality. …
Persistent link: https://www.econbiz.de/10011620638
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Innovation diffusion, technological convergence and economic growth
Andergassen, Rainer; Nardini, Franco; Ricottilli, Massimo - 2013
The paper investigates the mechanics through which novel technological principles are developed and diffused throughout an economy consisting of a technologically heterogeneous ensemble of firms. In the model entrepreneurs invest in the discovery and in the diffusion of a technological principle...
Persistent link: https://www.econbiz.de/10011730583
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The race of man and machine: implications of technology when abilities and demand constraints matter
Gries, Thomas; Naudé, Wim - 2021
In "The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment," Acemoglu and Restrepo (2018b) combine the task-based model of the labor market with an endogenous growth model to model the economic consequences of artificial intelligence (AI). This...
Persistent link: https://www.econbiz.de/10012517812