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The Wealth Effect

Rohit

in It's Not Over: Structural Drivers of the Global Economic Crisis

Published in print:
2013
Published Online:
January 2013
ISBN:
9780198088417
eISBN:
9780199082292
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198088417.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

Chapter 5 modifies Steindl’s model to include of wealth-induced consumption of the capitalists which counteracts the tendency of underconsumption in the short run. While the tendency towards ... More


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