Is Piketty’s “Second Law of Capitalism” Fundamental?

By Per Krusell, Anthony A. Smith. Journal of Political Economy, 2015

193 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/bf75bab0b2bdcd45dc71b6cf6241c637ee3025a3

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In Economics and Econometrics

Citations in the corpus

The Post-growth Challenge: Secular Stagnation, Inequality and the Limits to Growth (2019, background): “Unless the distribution of capital is itself entirely equal (a situation which clearly does not pertain at the moment) the relationship therefore presents the spectre of an ‘explosive’ rise (Krusell and Smith, 2014) in inequality as the growth rate declines to zero.”
No Price Like Home: Global House Prices, 1870-2012 (2014, unknown): “Clearly, these propositions can be debated (Krusell and Smith, 2014).”
IS LABOR'S LOSS CAPITAL'S GAIN? GROSS VERSUS NET LABOR SHARES (2017, background): “Eden and Gaggl (2015) implement a model in the spirit of Krusell et al. (2000), where routine labor is a substitute for equipment and a complement to structures.”
Reinventing Foreign Aid for Inclusive and Sustainable Development: Kuznets, Piketty and the Great Policy Reversal (2016, unknown): “23 Responses to Piketty’s work have revolved around commentaries and reviews on: data quality (Reynolds, 2014), facts cross-checking (Branko, 2014; Krusell & Smith, 2014); reviews (Allen, 2014; Homburg, 2014) and, alternative views of the problem of inequality (Stiglitz, 2014).”
Labor Share Decline and Intellectual Property Products Capital (2020, unknown): “Finally, while we have not attempted to link LS and economic inequality (see recent discussions in Bridgman (2014), Krusell and Smith (2014) and Karabarbounis and Neiman (2014b)), our result that IPP capital is behind the LS decline suggests that theories that aim at jointly explaining the LS…”