Grossmann, Volker; Larin, Benjamin; Löfflad, Hans Torben; … - 2019
for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to … investigate the dynamics of wealth inequality and the determinants of welfare. Households have non-homothetic preferences … by 0.7 percentage points (measured by the top 10 percent share). Average welfare increases by 0.5 percent. The household …