という掲載予定論文をEconometricaがツイートしている(H/T タイラー・コーエン)。原題は「Wealth Inequality in a Low Rate Environment」で、著者はMatthieu Gomez、Émilien Gouin-Bonenfant(いずれもコロンビア大)。 以下はその要旨。 We study the effect of interest rates on wealth inequality. While lower rates decrease the growth rate of rentiers, they also increase the growth rate of entrepreneurs by making it cheaper to raise capital. To understand which effect domin