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Is Piketty's "Second Law of Capitalism" Fundamental?

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  • Per Krusell
  • Anthony A. Smith Jr.

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  • Per Krusell & Anthony A. Smith Jr., 2015. "Is Piketty's "Second Law of Capitalism" Fundamental?," Journal of Political Economy, University of Chicago Press, vol. 123(4), pages 725-748.
  • Handle: RePEc:ucp:jpolec:doi:10.1086/682574
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    References listed on IDEAS

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    1. Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
    2. Thomas Piketty & Gabriel Zucman, 2014. "Capital is Back: Wealth-Income Ratios in Rich Countries 1700–2010," The Quarterly Journal of Economics, Oxford University Press, vol. 129(3), pages 1255-1310.
    3. Stefan Homburg, 2015. "Critical remarks on Piketty's Capital in the Twenty-first Century," Applied Economics, Taylor & Francis Journals, vol. 47(14), pages 1401-1406, March.
    4. Per Krusell & Anthony A. Smith & Jr., 1998. "Income and Wealth Heterogeneity in the Macroeconomy," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 867-896, October.
    5. Thomas Piketty & Emmanuel Saez, 2014. "Inequality in the long run," PSE - Labex "OSE-Ouvrir la Science Economique" halshs-01053609, HAL.
    6. Jones, Larry E & Manuelli, Rodolfo E, 1990. "A Convex Model of Equilibrium Growth: Theory and Policy Implications," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1008-1038, October.
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    Cited by:

    1. repec:eee:moneco:v:95:y:2018:i:c:p:49-71 is not listed on IDEAS
    2. Per Krusell & Anthony Smith & Joachim Hubmer, 2015. "The historical evolution of the wealth distribution: A quantitative-theoretic investigation," 2015 Meeting Papers 1406, Society for Economic Dynamics.
    3. repec:eee:ecolet:v:174:y:2019:i:c:p:128-131 is not listed on IDEAS
    4. O'Rourke, Kevin Hjortshøj, 2015. "Economic impossibilities for our grandchildren?," CEPR Discussion Papers 10974, C.E.P.R. Discussion Papers.
    5. Andreas Irmen & Amer Tabakovic, 2016. "Factor Income Distribution and Endogenous Economic Growth - When Piketty meets Romer -," CREA Discussion Paper Series 16-18, Center for Research in Economic Analysis, University of Luxembourg.
    6. Yannick Malevergne & Didier Sornette, 2016. "Wealth and Income Inequalities ← → r > g," Swiss Finance Institute Research Paper Series 16-69, Swiss Finance Institute.
    7. repec:eee:poleco:v:50:y:2017:i:c:p:157-170 is not listed on IDEAS
    8. Kevin Hjortshøj O'Rourke, 2015. "Economic Impossibilities For Our Grandchildren?," Oxford Economic and Social History Working Papers _139, University of Oxford, Department of Economics.
    9. Fischer, Thomas, 2017. "Thomas Piketty and the rate of time preference," Journal of Economic Dynamics and Control, Elsevier, vol. 77(C), pages 111-133.
    10. Cords, Dario & Prettner, Klaus, 2018. "Technological unemployment revisited: Automation in a search and matching framework," Hohenheim Discussion Papers in Business, Economics and Social Sciences 19-2018, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    11. repec:red:issued:16-223 is not listed on IDEAS
    12. repec:eee:jmacro:v:57:y:2018:i:c:p:83-109 is not listed on IDEAS
    13. Knüpfer, Samuli & Rantapuska, Elias & Sarvimäki, Matti, 2017. "Why does portfolio choice correlate across generations," Research Discussion Papers 25/2017, Bank of Finland.
    14. repec:ksa:szemle:1788 is not listed on IDEAS
    15. repec:eee:ecanpo:v:55:y:2017:i:c:p:90-105 is not listed on IDEAS
    16. Brueckner, Markus, 2017. "Rent extraction by capitalists," European Journal of Political Economy, Elsevier, vol. 50(C), pages 157-170.
    17. MADSEN, Jakob B, 2018. "Is Inequality Increasing in r-g? The Dynamics of Capital’s Income Share in the UK, 1210-2013," Discussion paper series HIAS-E-70, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    18. Dan Cao & Wenlan Luo, 2017. "Persistent Heterogeneous Returns and Top End Wealth Inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 301-326, October.
    19. repec:bla:ecinqu:v:55:y:2017:i:1:p:175-186 is not listed on IDEAS
    20. repec:rnp:ecopol:ep1768 is not listed on IDEAS
    21. repec:eee:quaeco:v:67:y:2018:i:c:p:162-174 is not listed on IDEAS
    22. Minelli, Enrico, 2017. "Merit and rent in a growing economy," Economics Letters, Elsevier, vol. 151(C), pages 107-110.

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