This paper explores the structural determinants of high-growth firm shares in Austrian regions. The regional level of analysis
allows one to uncover regularities that are not detectable in firm-level studies. It is found that lower mobility barriers,
firm exits and technological opportunities, measured by digitalization intensities, and, to a lesser extent, agglomeration
effects are associated with a larger share of high-growth firms. The results suggest that comparisons of shares of high-growth
firm across countries and regions should consider differences in the industrial structures together with the often-emphasized
differences in policies and regulations.
We develop and calibrate an analytical growth model in the Post-Keynesian tradition with an endogenous wealth distribution
and differential returns to wealth between workers and capitalists. We show that a long-run equilibrium allows for non-zero
wealth owned by workers, even as the model contains the "triumph of the rentier" predicted by Piketty as a special case. The
model's calibration to ten European countries shows that the distribution of wealth is likely to become more unequal in all
cases, barring political countermeasures.