RT Monograph
SR 00
A1 De Donder, Philippe
A1 Roemer, John E.
T1 The dynamics of capital accumulation in the US: Simulations after Piketty
YR 2015
FD 2015-04-16
VO 15-568
SP 47
K1 Piketty
K1 dynamics of wealth accumulation
K1 intergenerational mobility
K1 Kantian equilibrium
AB 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 – this is not a life-cycle model. A competitive firm produces a single good from labor and capital; the rate of return to capital and the wage rate are market-clearing. The second model introduces political lobbying by the wealthy, 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.
T2 TSE Working Paper
PB TSE Working Paper
PP Toulouse
AV Published
LK https://publications.ut-capitole.fr/id/eprint/16884/
UL http://tse-fr.eu/pub/29265