Steinbaum presents a thorough analysis of most economic research on inequality that ensued after the publication of Piketty’s “Capital in the Twenty-First Century”.
Why are economists giving Piketty the cold shoulder
By: Marshall Steinbaum – Roosevelt InstituteAhn and al in this paper develop a computational method for solving a wide class of general equilibrium heterogeneous agents model with aggregate shocks. They consider two applications of a two asset heterogeneous agents model and find that a) inequality can matter for macro aggregates; b) macro shocks can additionally matter for inequality, resulting in rich interactions between inequality and the macroeconomy.
When Inequality Matters for Macro and Macro Matters for Inequality
Authors: SeHyoun Ahn, Greg Kaplan, Benjamin Moll, Thomas Winberry, Christian Wolf
From: Princeton University – University of Chicago
Why are economists giving Piketty the cold shoulder
By: Marshall Steinbaum – Roosevelt InstituteAhn and al in this paper develop a computational method for solving a wide class of general equilibrium heterogeneous agents model with aggregate shocks. They consider two applications of a two asset heterogeneous agents model and find that a) inequality can matter for macro aggregates; b) macro shocks can additionally matter for inequality, resulting in rich interactions between inequality and the macroeconomy.
When Inequality Matters for Macro and Macro Matters for Inequality
Authors: SeHyoun Ahn, Greg Kaplan, Benjamin Moll, Thomas Winberry, Christian Wolf
From: Princeton University – University of Chicago
Milanovic suggests policies to share income from capital more equally could decrease overall inequality in a world where the capital-income ratio continues to rise.
Rising capital share and transmission into higher interpersonal inequality
By: Branco Milanovic – University of New York
This working paper summarizes the research presented at a CEP-IMF workshop on how unconventional monetary policies and macroprudential policies have impacted inequality and income distribution since the 2008 financial crisis.
Monetary Policy, Macroprudential Regulation and Inequality
Author: Pierre Monin
From: Council on economic Policies
“After Piketty – The Agenda for Economics and Inequality”
Edited by: Heather Boushey, J. Bradford DeLong, Marshall Steinbaum
“Thomas Piketty’s Capital in the Twenty-First Century is the most widely discussed work of economics in recent history, selling millions of copies in dozens of languages. But are its analyses of inequality and economic growth on target? Where should researchers go from here in exploring the ideas Piketty pushed to the forefront of global conversation? A cast of economists and other social scientists tackle these questions in dialogue with Piketty, in what is sure to be a much-debated book in its own right.”
Edited by: Heather Boushey, J. Bradford DeLong, Marshall Steinbaum
“Thomas Piketty’s Capital in the Twenty-First Century is the most widely discussed work of economics in recent history, selling millions of copies in dozens of languages. But are its analyses of inequality and economic growth on target? Where should researchers go from here in exploring the ideas Piketty pushed to the forefront of global conversation? A cast of economists and other social scientists tackle these questions in dialogue with Piketty, in what is sure to be a much-debated book in its own right.”
