Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/100431
Authors: 
Homburg, Stefan
Year of Publication: 
2014
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2014: Evidenzbasierte Wirtschaftspolitik - Session: Capital Accumulation F05-V3
Abstract: 
In recent contributions, Weizs cker (2014) and Summers (2014) maintain that mature economies accumulate too much capital. They suggest large and lasting public deficits as a remedy. This paper argues that overaccumulation cannot occur in an economy with land. It presents novel data of aggregate land values, analyzes the issue in a stochastic framework, and conducts an empirical test of overaccumulation.
JEL: 
D92
E62
H63
Document Type: 
Conference Paper

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