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 …

This paper reexamines a recent contribution to the theory of wealth accumulation under income uncertainty by Ricardo … distribution of wealth. We conclude that, regardless of the type of uncertainty considered, the intertemporal substitution motive …

Several models of economic behavior currently compete for an explanation of individual wealth accumulation and savings …, during which time expected earnings are zero. We find that income uncertainty can alter savings patterns over the lifecycle … significantly, with the greatest influence on the wealth of young individuals. However, its influence on the aggregate stock of …