Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/181471
Authors: 
Ederer, Stefan
Rehm, Miriam
Year of Publication: 
2017
Series/Report no.: 
FMM Working Paper 13
Abstract: 
We develop and calibrate an analytical growth model in the neo-Kaleckian tradition with an endogenous wealth distribution and differential returns to wealth between workers and capitalists. We show that a long-run equilibrium allows for non-zero wealth owned by workers, even as the model contains the ?triumph of the rentier? predicted by Piketty's r > g as a special case. The model's calibration to ten European countries shows that the distribution of wealth is likely to become more unequal in all cases, barring political countermeasures.
Document Type: 
Working Paper

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