The Macroeconomic Implications of Consumption: State-of-Art and Prospects for the Heterodox Future Research

Lidia Brochier and Antonio Carlos Macedo e Silva

MPRA Paper from University Library of Munich, Germany

Abstract: The recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investmentled growth models. An alternative approach is the so-called Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final demand components – including consumption – may lead long-run growth. We suggest that the dialogue between these approaches is not only possible but may prove to be quite fruitful.

Keywords: Consumption.; Household; debt.; Growth; theories.; Autonomous; expenditures. (search for similar items in EconPapers)
JEL-codes: B59 E12 E21 (search for similar items in EconPapers)
Date: 2017-07
New Economics Papers: this item is included in nep-hme, nep-mac and nep-pke
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Published in Revista Análise Econômica UFRGS Special Issue.35(2017): pp. 121-153

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