Will wealth become more concentrated in Europe? Evidence from a calibrated Post-Keynesian model
构建了一个后凯恩斯主义增长模型，校准至十个欧洲国家，发现除非采取政治对策，否则财富分配将变得更不平等。
We develop and calibrate an analytical growth model in the Post-Keynesian tradition with an endogenous wealth distribution and differential returns to wealth between workers and capitalists. We show that a long-run equilibrium allows for non-zero wealth owned by workers, even as the model contains the ‘triumph of the rentier’ predicted by Piketty as a special case. The model’s calibration to ten European countries shows that the distribution of wealth is likely to become more unequal in all cases, barring political countermeasures.