?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fpublications.ut-capitole.fr%2Fid%2Feprint%2F16884%2F&rft.title=The+dynamics+of+capital+accumulation+in+the+US%3A+Simulations+after+Piketty&rft.creator=De+Donder%2C+Philippe&rft.creator=Roemer%2C+John+E.&rft.subject=B-+ECONOMIE+ET+FINANCE&rft.description=We+calibrate+a+sequence+of+four+nested+models+to+study+the+dynamics+of+wealth+accumulation.+Individuals+maximize+a+utility+function+whose+arguments+are+consumption+and+investment.+They+desire+to+accumulate+wealth+for+its+own+sake+%E2%80%93+this+is+not+a+life-cycle+model.+A+competitive+firm+produces+a+single+good+from+labor+and+capital%3B+the+rate+of+return+to+capital+and+the+wage+rate+are+market-clearing.+The+second+model+introduces+political+lobbying+by+the+wealthy%2C+whose+purpose+is+to+reduce+the+tax+rate+on+capital+income.+The+third+model+introduces+differential+rates+of+return+to+capitals+of+different+sizes.+The+fourth+model+introduces+inheritance+and+intergenerational+mobility.&rft.publisher=TSE+Working+Paper&rft.date=2015-04-16&rft.type=Monograph&rft.type=NonPeerReviewed&rft.format=text&rft.language=en&rft.identifier=https%3A%2F%2Fpublications.ut-capitole.fr%2Fid%2Feprint%2F16884%2F1%2Fwp_tse_568.pdf&rft.identifier=++De+Donder%2C+Philippe+%3Chttps%3A%2F%2Fwww.idref.fr%2F199756120%3E+and+Roemer%2C+John+E.+%3Chttps%3A%2F%2Fwww.idref.fr%2F031647561%3E++(2015)+The+dynamics+of+capital+accumulation+in+the+US%3A+Simulations+after+Piketty.++TSE+Working+Paper%2C+n.+15-568%2C+Toulouse+++++&rft.relation=http%3A%2F%2Ftse-fr.eu%2Fpub%2F29265&rft.language=en