Makro-Pic Seminar: Economics of the Very Long Run: Inequality

Block Seminar: 28.06. - 29.06. 2019, 8:00 - 18:00
Location: Oec 1.165
Kickoff Meeting: 15.04., 14:00 - 15:00, Room Oec 1.162
Registration: from 24.04. until 27.06
Submission of the application form for the seminar: 22.04.
Submission of seminar paper: 01.06.
Seminar Info: info
Course material for participants is available at the course material webpage


In this seminar we discuss recent publications on the long-run causes and consequences of economic inequality. Introductory article for all participants: Piketty, T., and Saez, E. (2014). Inequality in the long run. Science, 344(6186), 838-843. article


1. Distributional National Accounts

Reference: Piketty, Thomas, Emmanuel Saez, and Gabriel Zucman. 2018. Distributional National Accounts: Methods and Estimates for the United States. Quarterly Journal of Economics 133 (2): 553–609.

2. The Correlation of Wealth Across Generations

Reference: Charles, K. K., and Hurst, E. (2003). The correlation of wealth across generations. Journal of political Economy, 111(6), 1155-1182.

3. Genetic Endowments and Wealth Inequality

Reference: Barth, D., Papageorge, N. W., and Thom, K. (2018). Genetic Endowments and Wealth Inequality (No. w24642). National Bureau of Economic Research.

4. The Impact of Intergenerational Transfers on Household Wealth Inequality

Reference: Niimi, Y., and Horioka, C. Y. (2016). The impact of intergenerational transfers on household wealth inequality in Japan and the United States (No. w22687). National Bureau of Economic Research.

5. Assortative Mating and Income Inequality

Reference: Greenwood, J., Guner, N., Kocharkov, G., and Santos, C. (2014). Marry your like: Assortative mating and income inequality. American Economic Review, 104(5), 348-53.

6. Human Capital Investment, Inequality, and Economic Growth

Reference: Murphy, K. M., and Topel, R. H. (2016). Human capital investment, inequality, and economic growth. Journal of Labor Economics, 34(S2), S99-S127.

7. The Macroeconomics of Top Income and Wealth Inequality

Reference: Jones, C. I. (2015). Pareto and Piketty: The macroeconomics of top income and wealth inequality. Journal of Economic Perspectives, 29(1), 29-46.

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

Reference: Krusell, P., and Smith Jr, A. A. (2015). Is Piketty’s “second law of capitalism” fundamental?. Journal of Political Economy, 123(4), 725-748.

9. Understanding the Great Gatsby Curve

Reference: Durlauf, S. N., and Seshadri, A. (2018). Understanding the Great Gatsby Curve. NBER Macroeconomics Annual, 32(1), 333-393.

10. Mortality and Morbidity in the 21st Century

Reference: Case, A., and Deaton, A. (2017). Mortality and morbidity in the 21st century. Brookings Papers on Economic Activity, 2017, 397.

11. The Transmission of Inequality Across Multiple Generations

Reference: Braun, S and J Stuhler (2018), The transmission of inequality across multiple generations: testing recent theories with evidence from Germany. Economic Journal 128(609): 576–611.

12. A Theory of Intergenerational Mobility

Reference: Becker, G. S., Kominers, S. D., Murphy, K. M., and Spenkuch, J. L. (2018). A theory of intergenerational mobility. Journal of Political Economy, 126(S1), S7-S25.

13. How Much of Our Income is Determined by Where We Live?

Reference: Milanovic, B. (2015). Global inequality of opportunity: How much of our income is determined by where we live?. Review of Economics and Statistics, 97(2), 452-460.

14. Time-poor, Working, Super-rich

Reference: Corneo, G. (2018). Time-poor, working, super-rich. European Economic Review, 101, 1-19.

15. Explaining Job Polarization

Reference: Goos, M., Manning, A., and Salomons, A. (2014). Explaining job polarization: Routine-biased technological change and offshoring. American Economic Review, 104(8), 2509-26.

16. Pre-Industrial Inequality

Reference: Milanovic, B., Lindert, P., and Williamson, J.G. (2010). Pre-Industrial Inequality. Economic Journal 121, 255–272.

17. Intergenerational Wealth Mobility in England, 1858–2012

Reference: Clark, G., and Cummins, N. (2014). Intergenerational wealth mobility in England, 1858–2012: surnames and social mobility. The Economic Journal, 125(582), 61-85.