Abstract This paper analyzes how capital concentration affects wage inequality through the channel of financial frictions. Higher capital concentration can be regarded as the Piketty effect. Under the framework of cost constrained financial frictions, we find that higher capital concentration will expand (resp. narrow down) wage inequality if the asset-liability ratio in the skilled sector is high (resp. low) enough relative to that in the unskilled sector.

中文翻译：

---

资本集中与工资不平等

摘要本文分析了资本集中如何通过金融摩擦渠道影响工资不平等。较高的资本集中度可以被视为派克蒂效应。在成本约束的财务摩擦的框架下，我们发现，如果熟练技术部门的资产负债率相对于非熟练技术部门而言足够高（降低），则较高的资本集中度将扩大（分别缩小）工资不平等。 。