Piketty's rg implies an increase in capital-output ratio and in the share of capital income in net output. But it still does not guarantee the increase in personal income inequality. We derive the conditions for the "pass-through" of the rise in the share of capital income to greater personal...

The relationship between the distribution of political rights and that of economic resources has been studied both theoretically and empirically. This paper reviews the existing literature and, in particular, the available empirical evidence.Our reading of the literature suggests that formal...

The relationship between the distribution of political rights and that of economic resources has been studied both theoretically and empirically. This paper reviews the exsisting literature and, in particular, the available empirical evidence. Our reading of the literature suggests that formal...