<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-7202</journal-id>
<journal-title><![CDATA[Estudios Económicos (México, D.F.)]]></journal-title>
<abbrev-journal-title><![CDATA[Estud. Econ. (México, D.F.)]]></abbrev-journal-title>
<issn>0186-7202</issn>
<publisher>
<publisher-name><![CDATA[El Colegio de México A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-72022023000200183</article-id>
<article-id pub-id-type="doi">10.24201/ee.v38i2.441</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Does R-G cause wealth inequality? The case of the United States]]></article-title>
<article-title xml:lang="es"><![CDATA[¿La R-G causa la desigualdad de la riqueza? El caso de Estados Unidos]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Strauss]]></surname>
<given-names><![CDATA[David]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ventosa-Santaularia]]></surname>
<given-names><![CDATA[Daniel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Centro de Investigación y Docencia Económicas  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2023</year>
</pub-date>
<volume>38</volume>
<numero>2</numero>
<fpage>183</fpage>
<lpage>224</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-72022023000200183&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-72022023000200183&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-72022023000200183&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: Piketty claims that the gap between the return to capital and the growth rate (r-g) governs the evolution of wealth inequality. This paper assesses its empirical validity using an IV approach and almost one century of US data. Our results are twofold: First, wealth shares are nonstationary, necessitating first differences to draw a valid inference from any econometric exercise. This is consistent with Pikettys line of argumentation and casts doubt on studies on inequality that use inequality levels without showing the trending behavior of the data. Second, r-g played a significant role in the evolution of wealth inequality over the last century, both statistically and economically. In particular, r-g can explain over 50% of the increase in wealth inequality since the late 1970s.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Piketty afirma que la brecha entre el rendimiento del capital y la tasa de crecimiento (r-g) gobierna la evolución de la desigualdad de la riqueza. Este documento evalúa su validez empírica utilizando un enfoque IV y casi un siglo de datos de Estados Unidos. Nuestros resultados pueden resumirse en dos: en primer lugar, las proporciones de riqueza no son estacionarias, lo que requiere primeras diferencias para obtener inferencias válidas de cualquier ejercicio econométrico. Esto es consistente con la línea de argumentación de Piketty y pone en duda los estudios sobre desigualdad que utilizan niveles de desigualdad sin mostrar el comportamiento tendencial de los datos. En segundo lugar, r-g desempeñó un papel importante en la evolución de la desigualdad de la riqueza durante el último siglo, tanto estadística como económica-mente. En particular, r-g puede explicar más del 50% del aumento en la desigualdad de la riqueza desde finales de la década de 1970.]]></p></abstract>
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<kwd lng="en"><![CDATA[Piketty]]></kwd>
<kwd lng="es"><![CDATA[desigualdad patrimonial]]></kwd>
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