Aggregate Demand, Inequality and Instability

Piero Ferri (Autor)

Buch | Hardcover

192 Seiten

2016
Edward Elgar Publishing Ltd (Verlag)
978-1-78643-304-6 (ISBN)

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This book studies the relationships between aggregate demand, inequality and instability. However, the role of inequality is proven to play a decisive role in shaping dynamics.

This book studies the relationships between aggregate demand, inequality and instability. It extends the traditional approach by introducing wealth and inequality into a dynamic macroeconomic model. Furthermore, it examines the role that debt and financial instability can play in turbulent times such as the Great Recession and its aftermath.Unlike Piketty, the author analyzes the relationships between instability and inequality, and the feedbacks from the latter to the former, in a system approach where real and monetary factors interact to generate complex patterns. The book does not discover 'iron laws' because the results depend on the nature of the model, the values of the parameters and the policy pursued. However, the role of inequality is proven to play a decisive role in shaping dynamics. Finally, the author discusses the link between medium and long- run problems, and the challenges that remain to be faced.

Piero Ferri's original application of economic principles to the topic of inequality will make this book essential reading for all economists, particularly those of a macro orientation.

Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy

Contents: 1. Introduction PART I: Basic Concepts 2. Piketty’s Contribution 3. Measurement 4. Inequality and Aggregate Demand PART II: Endogenous Dynamics and Instability 5. Aggregate Demand, Growth and Instability 6. Wealth, Public Debt and Instability 7. Recursive Workhorses PART III: The Macro Inference of Inequality 8. Rent, Wealth and Bubbles 9. A Model with Heterogeneous Supply 10. Wealth and Capital Gains in Financial Markets PART IV: Inequality, Finance and Instability 11. Inequality and the Financial Instability Hypothesis 12. Instability in a Regime Switching Model PART V: Concluding Remarks 13. A Summary 14. The Challenges Index

Erscheinungsdatum	31.12.2016
Reihe/Serie	New Directions in Modern Economics series
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Sozialwissenschaften ► Soziologie
	Wirtschaft ► Allgemeines / Lexika
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
ISBN-10	1-78643-304-4 / 1786433044
ISBN-13	978-1-78643-304-6 / 9781786433046
Zustand	Neuware