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Existence and specific characters of rentiers: a savers-spenders theory approach

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  • Emmanuel Thibault

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Abstract

Using the savers-spenders theory developed by Mankiw (2000, AER), we propose microfoundations to the existence of rentiers in macroeconomic growth models. From an OLG model which acknowledges the great heterogeneity of consumer behavior apparent in the data, we capture the dynamic considerations of potential rentiers as a natural consequence of intertemporal utility maximization and we analyze realistic characteristics (proportion, wealth, propensity to save) of rentiers. Copyright Springer-Verlag Berlin/Heidelberg 2005

Suggested Citation

  • Emmanuel Thibault, 2005. "Existence and specific characters of rentiers: a savers-spenders theory approach," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(2), pages 401-419, February.
  • Handle: RePEc:spr:joecth:v:25:y:2005:i:2:p:401-419 DOI: 10.1007/s00199-003-0430-z
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    References listed on IDEAS

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    Cited by:

    1. Degan, Arianna & Thibault, Emmanuel, 2016. "Dynastic accumulation of wealth," Mathematical Social Sciences, Elsevier, vol. 81(C), pages 66-78.
    2. Michel, Philippe & Thibault, Emmanuel & Vidal, Jean-Pierre, 2006. "Intergenerational altruism and neoclassical growth models," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    3. Bosi, Stefano & Seegmuller, Thomas, 2010. "On the role of progressive taxation in a Ramsey model with heterogeneous households," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 977-996, November.
    4. Pierre Pestieau & Emmanuel Thibault, 2012. "Love thy children or money," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), pages 31-57.
    5. Michel, Philippe & Thibault, Emmanuel, 2007. "The failure of Ricardian equivalence under dynastic altruism," Journal of Mathematical Economics, Elsevier, vol. 43(5), pages 606-614, June.
    6. repec:hal:journl:halshs-00331299 is not listed on IDEAS

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