Piketty's Book and Macro Models of Wealth Inequality
48 Pages Posted: 16 Nov 2015 Last revised: 18 May 2023
Date Written: November 2015
Abstract
Piketty's book, Capital in the Twenty-First Century, discusses several factors affecting wealth inequality: rates of return on capital, output growth rates, tax progressivity, top income shares, and heterogeneity in saving rates and inheritances. This paper studies the role of various forces affecting savings in quantitative models of wealth inequality, discusses their successes and failures in accounting for the observed facts, and compares these model's implications with Piketty's conclusions.
Suggested Citation: Suggested Citation
De Nardi, Mariacristina and De Nardi, Mariacristina and Fella, Giulio and Yang, Fang, Piketty's Book and Macro Models of Wealth Inequality (November 2015). NBER Working Paper No. w21730, Available at SSRN: https://ssrn.com/abstract=2691248
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