In this study, the relation between consumer credit and real economic activity during the Great Moderation is studied …. Investors, who hold the economy’s capital stock, own the firms and supply credit, and workers, who supply labor and demand … credit to finance consumption. Furthermore, workers seek to minimize the difference between investors’ and their own …

externalities are an important driver of consumer credit dynamics. Our model economy is populated by two different household types …. Investors, who hold the economy's capital stock, own the firms and supply credit, and workers, who supply labor and demand … credit to finance consumption. Furthermore, workers condition their consumption choice on the investors' level of consumption …

pressure, and excessive credit growth by allocating income to agents featuring low marginal propensity to consume, and if …

Do different types of household credit affect income growth and income inequality differently? This empirical paper …. We find that the different types of household credit matter, and our contributions are twofold. First, on income growth …, both macro- and micro-analyses consistently find housing credit to be positively associated with future income growth …

This work studies the relations between income distribution and monetary/fiscal policies using an credit … interest rates and credit lending conditions in a framework combining Keynesian mechanisms of demand generation, a … Schumpeterian innovation-fueled process of growth and Minskian credit dynamics. We show that the model is able to account for a rich …