NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Piketty's Book and Macro Models of Wealth Inequality

Mariacristina De Nardi, Giulio Fella, Fang Yang

NBER Working Paper No. 21730
Issued in November 2015, Revised in December 2015

---- Acknowledgments ----

Fella is grateful to UCL for their generous hospitality while he was working on this paper. We thank Devesh Raval, Matthew Rognlie, Emmanuel Saez, and Marshall Steinbaum for comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research, any agency of the Federal Government, or the Federal Reserve Bank of Chicago. This paper has been written as a chapter for the book “The Global Ramifications of Thomas Piketty's Capital in the 21st Century,” edited by Heather Boushey, Bradford DeLong, and Marshall Steinbaum.

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