CONSTRAINTS ON CREDIT, CONSUMER BEHAVIOUR AND THE DYNAMICS OF WEALTH

This paper develops a simple macroeconomic model where the pattern of wealth accumulation is determined by a credit multiplier and the way households react to short-term fluctuations. Given this setup, long term wealth dynamics are eventually characterized by the presence of endogenous cycles.

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Year of publication:	2009
Authors:	Gomes, Orlando Costa
Published in:	Economic Annals. - Ekonomski fakultet, ISSN 0013-3264. - Vol. 54.2009, 182, 5, p. 119-132
Publisher:	Ekonomski fakultet
Subject:	credit constraints \| financial development \| consumer confidence \| endogenous business cycles \| nonlinear dynamics

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Extent:	application/pdf
Type of publication:	Article
Classification:	O41 - One, Two, and Multisector Growth Models ; E32 - Business Fluctuations; Cycles ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010938645