between the 50th and 90th percentiles of the income distribution. While their income growth was low, middle-class families … income growth played a central role in rising indebtedness. Debt-to-income ratios have risen most dramatically for households …

We introduce distributive justice into a simple model of growth and distribution. Two groups (‘classes’) of otherwise … supplies one unit of labour inelastically and desires a wage; and that the labour share impacts growth negatively in our ‘AK … conflict is resolved by the two positive and three normative criteria we consider. Thus, the macroeconomy (growth, factor …

We scrutinize Thomas Piketty’s (2014) theory concerning the relationship between an economy’s long-run growth rate, its … capital-income ratio, and its factor income distribution put forth in his recent book Capital in the Twenty-First Century. We … find that a smaller long-run growth rate may be associated with a smaller capital-income ratio. Hence, the key implication …

of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks …

of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks …

We introduce distributive justice into a simple model of growth and distribution. Two groups (‘classes’) of otherwise … supplies one unit of labour inelastically and desires a wage; and that the labour share impacts growth negatively in our ‘AK … conflict is resolved by the two positive and three normative criteria we consider. Thus, the macroeconomy (growth, factor …

of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as …

factor incomes (e.g., Piketty (2014a), Piketty and Zucman (forthcoming), Karabarbounis and Neiman (2014)) and long-run growth …