balance of three forces: interest rate pass-through, risk shifting, and leverage. When banks can adjust their capital … structures, a monetary easing leads to greater leverage and lower monitoring. However, if a bank's capital structure is fixed …

This paper is about “Capital in the Twenty-first Century” by Thomas Piketty. It identifies his central macroeconomic …

that capital itself is a form of organized power and researched how capitalists sustain, defend and augment their … capitalized power. We called our approach 'capital as power' - or CasP, for short. But that's only one side of the picture. Power …

Piketty's Capital in the Twenty-First Century posits the return r on capital to be larger than the economic growth rate …. We show that increasing inequality promotes increasing gap r - g, and vice-versa, because capital is a cumulative … quantity that claims a finite fraction of the total output in the presence of fractional consumption of the return on capital …