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DeFiPP Research Seminar by Ansgar Rannenberg (NBB)

Income inequality and the German export surplus

Catégorie : conférence/cours/séminaire (spécialisé)
Date : 14/05/2024 16:00 - 14/05/2024 17:15
Lieu : Salle Polyvalente
Orateur(s) : Ansgar Rannenberg
Organisateur(s) : Romain Houssa


I develop an open economy model of Germany (DE), the Rest of the Euro Area (REA) and the Rest of the World (ROW) with rich and non-rich households. Rich households have capitalist spirit preferences over their wealth and thus save part of an increase in their permanent income. Hence rising income inequality raises total household saving. Simulating the increase in DE income inequality over the 1992-2016 period replicates about half of the increase of the net export-to-GDP ratio during this period, and partially replicates the upward trends of German and REA household  indebtedness and the decline of the Euro Area natural interest rate.

Contact : Romain Houssa -
Télecharger : vCal