This paper presents a model of secular stagnation, income and wealth distribution, and employment in the Classical Political Economy tradition, that can be contrasted with the accounts by Piketty (2014) and Gordon (2015). In these explanations, an exogenous reduction in the growth rate g...

This paper presents a macroeconomic agent based model with endogenous innovation-driven growth and knowledge accumulation which aims to analyze the underlying causes of the recent increase in market concentration, by focusing on the interplay of technical change and market power, and the...

Does uncertainty of labor earning over the life-time increase income inequality? - This paper finds that there is a direct positive relationship between life-time uncertainty and income inequality. Earlier studies single out the effect of uncertainty to pin point the effects of predictable...

Existence of phenomena such as unemployment and low earnings of the poorest social strata in both periods of recession and the economic boom, highlights the existence of root causes in society. Providing answers to the question: what are the causes and the solutions can be implemented to solve...

Existence of phenomena such as unemployment and low earnings of the poorest social strata in both periods of recession and the economic boom, highlights the existence of root causes in society. Providing answers to the question: what are the causes and the solutions can be implemented to solve...

Recent research stresses the macroeconomic dimension of income distribution, but no theory has yet emerged. In this note, we introduce factor shares into popular growth models to gain insights into the macroeconomic effects of income distribution. The cost of modifying existing models is low...

Based on required growth rate and actual growth rate, this paper proposes a method to construct measures to indicate the probability of a country escaping the middle income trap (MIT). A second contribution of this paper is to model this probability using 1960–2015 cross-country data, focusing...

We construct an overlapping generations model to study the effect of capital controls on human capital investments and the incidence of redistributive politics in a growing economy. We argue that the conventional wisdom linking higher capital controls to lower growth is reproduced only when an...

We analyze the distribution and concentration of market incomes in Germany in the period 1992 to 2001 on the basis of an integrated data set of individual tax returns and the German Socio-Economic Panel. The unique feature of this integrated data set is that it encompasses the whole spectrum of...

It has become commonplace to raise the analogy between the recent experience of the dynamics of income distribution and growth, and that of the era before the Great Depression. However, no study of the demand regime has been done for the early twentieth century period; this study attempts to fill...