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This paper is about “Capital in the Twenty-first Century” by Thomas Piketty. It identifies his central macroeconomic claims and examines them, arguing that the contentions are theoretically and empirically unwarranted.
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. Distributional information on households' wealth is available from the Household Finance and Consumption Survey only for three points … quarterly distributional national wealth by (i) improving the alignment of survey fieldwork periods with the national accounts … time series; and (v) computing euro area aggregates. This paper finds an increase in the net wealth Gini of most euro area …
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of income and wealth and interest into the taxation of wealth for redistributive purposes has largely increased. By … analysis of taxes on wealth and wealth transfers. Second, we evaluate redistributive effects of tax-benefit systems against the … joint income-wealth distribution instead of income only. We show that expressing living standards in terms of both income …
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