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timeframe. Leveraging hitherto unexploited wealth inequality data from the World Inequality Database, covering a panel of 165 …
Persistent link: https://www.econbiz.de/10014553772
This paper is about “Capital in the Twenty-first Century” by Thomas Piketty. It identifies his central macroeconomic claims and examines them, arguing that the contentions are theoretically and empirically unwarranted.
Persistent link: https://www.econbiz.de/10010349913
data from the World Top Incomes database, which collects top income data from several countries using tax returns as the …
Persistent link: https://www.econbiz.de/10013071344
This work rehearses the main themes of Piketty's book and summarizes the debate it triggered. The paper dwells on the rise in the ratio of household wealth to GDP in the rich countries since the 1980s and the role played by the build-up of saving and variations in house and financial asset...
Persistent link: https://www.econbiz.de/10012978637
constructing a novel database covering approximately the 80% of the global output and the 60% of the world population, two major … findings stand out. First, the world underwent a spectacular process of capitalization. The share of world individuals with … composition of capital and labor income is, therefore, more equal today than it was twenty years ago, and the world is moving …
Persistent link: https://www.econbiz.de/10012591267
Economic inequality in America continues to grow, taking on ever greater economic and political importance. The reasons for increasing inequality are complex and widely debated, as are potential policies to address it. This paper focuses on a vital but unrecognized part of the story: how the...
Persistent link: https://www.econbiz.de/10013217855
, especially if taxes and income support are included, in many countries in the developing world and the US. A focus on inequality …
Persistent link: https://www.econbiz.de/10013030653
This Article examines property law’s effect on economic inequality, particularly centered on Thomas Piketty’s findings in Capital in the Twenty-First Century. Piketty finds that when the rate of return on capital is greater than economic growth, capital concentrates among the wealthy,...
Persistent link: https://www.econbiz.de/10013296986
A fundamental question in social sciences relates to the effect of wealth inequality on economic growth. Yet, in tackling the question, researchers have had to use income as a proxy for wealth. We derive a global measure of wealth inequality from Forbes magazine's listing of billionaires and...
Persistent link: https://www.econbiz.de/10010211159
A key question in social sciences relates to the effect of wealth inequality on economic growth. Yet, in analyzing this issue, researchers have had to use income as a proxy for wealth. We derive a global measure of wealth inequality from Forbes magazine's listing of billionaires and decompose it...
Persistent link: https://www.econbiz.de/10013019067