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Making sense of Piketty's "fundamental laws" in a Post-Keynesian framework : the transitional dynamics of wealth inequality

Ederer, Stefan; Rehm, Miriam - 2018

If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion … transitional phase of increasing wealth inequality, which characterizes the current state of high-income countries: The wealth … share of capitalists rises to over 60%, the wealth-to-income ratio increases, and income inequality rises. Finally, we show …

Persistent link: https://www.econbiz.de/10011927150

The Promises and Perils of Agent-Based Computational Economics

Richiardi, Matteo - Collegio Carlo Alberto, Università degli Studi di Torino - 2003

In this paper I review the main strengths and weaknesses of agent-based computational models. In particular I rationalise the main theoretical critiques, which point to the following problematic areas: (i) interpretation of the simulation dynamics, (ii) estimation of the simulation model, and...

Persistent link: https://www.econbiz.de/10005094035

Macroeconomic simulation comparison with a multivariate extension of the Markov Information Criterion

Barde, Sylvain - 2019

Comparison of macroeconomic simulation models, particularly agent-based models (ABMs), with more traditional approaches such as VAR and DSGE models has long been identified as an important yet problematic issue in the literature. This is due to the fact that many such simulations have been...

Persistent link: https://www.econbiz.de/10012018797

Tax-benefit systems, income distribution and work incentives in the European Union

Jara, H. Xavier; Tumino, Alberto - 2013

In this paper we study the impact of tax-benefit systems on income inequality and work incentives across the 27 Member …

Persistent link: https://www.econbiz.de/10009738946

Distributional effects of competition: a simulation approach

Rodríguez-Castelán, Carlos; Araar, Abdelkrim; … - 2021

Understanding the economic and social effects of the recent global trends of rising market concentration and market power has become a policy priority. To fill this knowledge gap, this paper introduces a simple simulation method, the Welfare and Competition tool (WELCOM), to estimate with...

Persistent link: https://www.econbiz.de/10012418634

Universal, targeted or both : effects of different child support policies on labour supply and poverty : a simulation study

Bruckmeier, Kerstin; D'Andria, Diego; Wiemers, Jürgen - 2022

benefits are increased, the effect on overall income inequality is more pronounced at the cost of reduced labour supply …

Persistent link: https://www.econbiz.de/10013191880

Universal, targeted or both : effects of different child support policies on labour supply and poverty : a simulation study

Bruckmeier, Kerstin; D'Andria, Diego; Wiemers, Jürgen - In: Journal of contextual economics : Schmollers Jahrbuch 142 (2022) 2, pp. 159-206

overall income inequality is more pronounced at the cost of reduced labour supply incentives for middle- and high …

Persistent link: https://www.econbiz.de/10015188161

On the role of luck for the concentration of capital and Piketty's 'fundamental force of divergence'

Vilks, Arnis - In: Review of Economic Analysis : REA 17 (2025) 1, pp. 37-67

concentration and that there are cases where concentration of capital does increase while the opposite inequality, g>r, holds. …

Persistent link: https://www.econbiz.de/10015386914

Methodological Issues and Models in 'History Friendly' Simulations

Garavaglia, Christian - KITeS, Centre for Knowledge, Internationalization and … - 2009

Simulation techniques have proliferated a lot in the last years. In economics the industrial dynamics approach makes use of simulation techniques to understand the complexity of the industrial process of continuous change. Among these models, a new branch of studies called “History-friendly”...

Persistent link: https://www.econbiz.de/10008683416

Development as Division of Labor : Adam Smith Meets Agent-Based Simulation

Smith, Nathanael - 2012

Adam Smith thought the key to raising productivity was specialization and the division of labor, but this explanation has been marginalized in economic theory because it doesn't fit into neoclassical models. Using agent-based simulation (in particular an adapted version of the Howitt-Clower...

Persistent link: https://www.econbiz.de/10014163929