ISBN:
9781848443808
Language:
English
Pages:
1 Online-Ressource (x, 183 p)
,
ill
Series Statement:
New directions in modern economics
Series Statement:
Edward Elgar E-Book Archive
Parallel Title:
Available in another form
Parallel Title:
Erscheint auch als Brown, Christopher Inequality, consumer credit and the saving puzzle
DDC:
332.7/43
Keywords:
Makroökonomik
;
Verbraucherkredit
;
Finanzprodukt
;
Einkommensverteilung
;
USA
;
Consumer credit
;
Macroeconomics
;
Electronic books
;
USA
;
Makroökonomie
;
Konsumentenkredit
;
Finanzinnovation
;
Einkommensverteilung
Abstract:
Providing much needed context for current events like the sub-prime mortgage crisis, this timely book presents a vision of an economy evolved to greater dependence on consumer credit and analyzes the trade-offs and risks associated with it. While synthesizing the Keynesian theory of consumption with the Institutional theory of habit selection (brought up to date with new knowledge from evolutionary biology and neuroscience), this book represents an in-depth treatment of the macroeconomic dimensions of consumer credit and implications of recent financial innovations from a non-traditional economic approach
Abstract:
1. Consumer credit and effective demand -- 2. The household debt surge and the theory of habit selection -- 3. A brief history of innovation in the consumer credit industry -- 4. The saving puzzle : a closer examination -- 5. Macroeconomic aspects of consumer credit dependence -- 6. Balance sheet (minsky) effects : an empirical analysis -- 7. Consumerism, inequality and globalization -- 8. Final remarks
Note:
Includes bibliographical references and index
DOI:
10.4337/9781848443808
URL:
Volltext
(Deutschlandweit zugänglich)
URL:
Deutschlandweit zugänglich
