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Identifier to cite or link to this item: https://hdl.handle.net/10086/29260

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Title
Is Inequality Increasing in r-g? The Dynamics of Capital’s Income Share in the UK, 1210-2013
Creator
Creator Name
MADSEN, Jakob B MADSEN, Jakob B
Affiliation
Affiliation Name
Department of Economics, Monash University
Editor
Contributor Name
Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Key Word
Inequality and the (r-g)-gap
dynamics of inequality
inequality in the UK
1210-2013
JEL
E1
E2
O4
N1
N30
P1
Abstract
This paper provides the first very long term empirical examination of Piketty’s (2014) controversial hypothesis that inequality is increasing in r – g, (assets - real income). Using unique annual data on asset returns for a balanced portfolio and several other variables for the UK over the period 1210-2013, the study examines whether the dynamics in capital’s income share, SW, are governed by (r–g). The analysis confirms that r and g are robust and significant determinants of factor shares and that they have been the major forces behind the large inequality waves over the past eight centuries.
Publisher
Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Issued Date
2018-06
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Discussion paper series ; No. HIAS-E-70
Number of Pages
35
Appears in Collections
Discussion paper series / Hitotsubashi Institute for Advanced Study, Hitotsubashi University
URL
https://hdl.handle.net/10086/29260