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Distributional effects of surging housing costs under Schwabe's law of rent
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 … inequality by about 0.7 percentage points (measured by top 10 percent share). Average welfare increases by about 0.5 percent …
Persistent link: https://www.econbiz.de/10012310716
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Distributional effects of surging housing costs under Schwabe's law
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 …
Persistent link: https://www.econbiz.de/10012026424
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Distributional Effects of Surging Housing Costs under Schwabe`s Law of Rent
Steger, Thomas; Grossmann, Volker; Larin, Benjamin; … - 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 … inequality by about 0.7 percentage points (measured by top 10 percent share). Average welfare increases by about 0.5 percent …
Persistent link: https://www.econbiz.de/10012099175
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Modern Infectious Diseases: Macroeconomic Impacts and Policy Responses
Bloom, David E.; Kuhn, Michael; Prettner, Klaus - 2020
We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late 20th century. First, we cover the role of health in driving economic growth and well-being and discuss standard frameworks for assessing the economic burden of infectious diseases. Second, we...
Persistent link: https://www.econbiz.de/10012322424
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Modern infectious diseases: macroeconomic impacts and policy responses
Bloom, David E.; Kuhn, Michael; Prettner, Klaus - 2020
We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late 20th century. First, we cover the role of health in driving economic growth and well-being and discuss standard frameworks for assessing the economic burden of infectious diseases. Second, we...
Persistent link: https://www.econbiz.de/10012271478
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Das House-Kapital : a theory of wealth-to-income ratios
Grossmann, Volker; Steger, Thomas - 2016 - April 11, 2016 (Version 1.1)
This paper provides a novel macroeconomic model that is specifically designed to investigate the evolution of housing wealth. To capture the importance of land as an input factor for housing production and for the evolution of wealth in a growing economy, the analysis builds on three premises:...
Persistent link: https://www.econbiz.de/10011451042
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Wealth Inequality in the Long Run : A Schumpeterian Growth Perspective
Madsen, Jakob - 2018
This paper extends Piketty's analysis of the wealth-income ratio used as a proxy for wealth inequality, to allow for innovation. Drawing on a Schumpeterian (R&D-based) growth model that incorporates both tangible and intangible capital and using historical data for 21 OECD countries, we find the...
Persistent link: https://www.econbiz.de/10012913785
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Distributional consequences of surging housing rents
Grossmann, Volker; Larin, Benjamin; Löfflad, Hans Torben; … - In: Journal of economic theory 196 (2021), pp. 1-51
Persistent link: https://www.econbiz.de/10012813316
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A heterogeneous-agent model of growth and inequality for the UK
Meenagh, David; Minford, Patrick; Ynag, Xiaoliang - 2018
This paper analyses the effect of wealth inequality on UK economic growth in recent decades with a heterogeneous-agent growth model where agents can enhance individual productivity growth by undertaking entrepreneurship. The model assumes wealthy people are more able to afford the costs of...
Persistent link: https://www.econbiz.de/10011886966
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Das House-Kapital: A Theory of Wealth-to-Income Ratios
Grossmann, Volker; Steger, Thomas - 2016
This paper provides a novel macroeconomic model that is specifically designed to investigate the evolution of housing wealth. To capture the importance of land as an input factor for housing production and for the evolution of wealth in a growing economy, the analysis builds on three premises:...
Persistent link: https://www.econbiz.de/10011451467