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Inequality, Consumer Credit And The Saving Puzzle - 9781847205094

Un libro in lingua di Christopher Brown edito da Edward Elgar Pub, 2008

  • € 97.50
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Brown (economics, Arkansas State U.) explores the role of consumer credit in macroeconomic causality from a post-Keynesian perspective. Following a review of the post-Keynesian position on the meaning and economic significance of spending, he sets out a theoretical explanation of the decline of saving and the surge of household debt in the US economy, arguing that a social habit structure amenable to credit use has emerged in the wake of increasing consumer credit opportunity. He then explores empirical links of income distribution to household saving in a further effort to explain the decline of household savings. Next, he discusses the macroeconomic risks of consumer credit dependence, including the danger of a Minsky-effect-induced collapse of consumer spending. Finally, he addresses the relationship of the growing US trade deficit to the above issues. Annotation ©2009 Book News, Inc., Portland, OR (booknews.com)

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