Dear colleagues,

The Department of Economics cordially invites you to the WU Economics Research Seminar on Wednesday, May 28^th, 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

With best regards,

Harald Oberhofer

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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

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

http://www.wifo.ac.at/harald_oberhofer