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Publication Detailed Description
Constraints on credit, consumer behaviour and the dynamics of wealth
Journal Title
Economic Annals
Year (definitive publication)
2009
Language
English
Country
Serbia
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Abstract
This note develops a simple macro model where the pattern of wealth accumulation is determined by a credit multiplier and by the way households react to short run fluctuations. In this setup, long term wealth dynamics are eventually characterized by the presence of endogenous cycles.
Acknowledgements
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Keywords
credit constraints, financial development, consumer confidence, endogenous business cycles, nonlinear dynamics
Fields of Science and Technology Classification
- Economics and Business - Social Sciences
