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this economy is r = g/σ + τ + ρ, the condition r > g arises naturally. A plausible calibration might be g = 2, τ = 2, ρ = 1, and σ = 1, which leads to r5. In this economy, even though = r > g, there is no “endless inegalitarian spiral.” Instead, there is a steady-state level of inequality. (Optimizing capitalists consume enough to pre-
Use a simple spreadsheet model to understand how a higher return on capital (R) than economic growth (G) might lead to more national income going to capital owners instead of labor. Explore different scenarios and how they affect income distribution and inequality.
1. INTRODUCTIO. s. The mechanics through which the ‘r-g’ differential affects debt dynamics are summarised in the debt law of motion (see Box II.3. ). Based on this formula, a negative differential could appear unambiguously beneficial for debt dynami.
15 Ιουν 2014 · Supporters of Prof Piketty have a slightly wonkish rallying cry: “r>g”. Translated from economics-speak, it means returns on capital (r) will grow faster than the economy (g). For those ...
1 Σεπ 2023 · Differentials between interest rates on government bonds (r) and economic growth rates (g) are a key determinant of public debt dynamics. What are the predictors of r-g, and what risks do policy-makers face?
The r-g framework refers to the relationship between the rate of return on capital (r) and the growth rate of the economy (g). This concept is crucial for understanding budget deficits and public debt, as it highlights how economic growth can affect a government's ability to manage its debt.
13 Ιουλ 2015 · In this series, I will describe the arguments that Piketty makes to conclude that wealth inequality will rise and that global capital taxation is needed to stop it, and present a critical discussion of these arguments. My analysis starts with Piketty’s most famous formula, r > g.
