Dear colleagues, The Department of Economics cordially invites you to the WU Economics Research Seminar on Wednesday, May 28th, with Ben J. Heijdra (University of Groningen) on "Rent-seeking, capital accumulation, and macroeconomic growth" Abstract: We study the effects of rent-seeking on economic growth. The starting point is an overlapping generations model where growth is driven by human capital accumulation. In this setting we introduce a source of rent, namely monopolization of one of the sectors of the economy, and agents who are heterogeneous in their (intrinsically useless) rent-seeking ability. Agents can boost their income either by investing in human capital or by capturing a fraction of rent. Monopolization increases the growth rate. The effect of rent-seeking on growth is ambiguous, but it increases wealth inequality. Date: Wednesday, May 28th Time: 4.30 to 6 pm (CET) Location: building D4, ground floor, D4.0.144<https://campus.wu.ac.at/?q=D4.0.144> With best regards, Harald Oberhofer --- Univ.-Prof. Dr. Harald Oberhofer Department of Economics WU Vienna University of Economics and Business Phone: +43/1/31336-4984 Email: harald.oberhofer@wu.ac.at<mailto:harald.oberhofer@wu.ac.at> https://www.wu.ac.at/en/economics/people/oberhofer-h Austrian Institute of Economic Research (WIFO) Phone: +43/1/7982601-468 Email: harald.oberhofer@wifo.ac.at<mailto:harald.oberhofer@wifo.ac.at> http://www.wifo.ac.at/harald_oberhofer