Income distribution and debts in a fragile economy: market processes and macro constraints

Piero Ferri ()

Journal of Economic Interaction and Coordination, 2013, vol. 8, issue 2, 219-230

Abstract: The purpose of the paper is to study fluctuations in a fragile economy, where the role of debt and income distribution is considered. It is based upon a macro approach that emphasizes interactions between market processes and macro constraints within an uncertain environment. By utilizing a regime switching approach, where behavioural functions change when a threshold is violated, robust dynamics can be generated. The model can mimic some aspects of the present evolution of the world economy by means of simulations. Copyright Springer-Verlag 2013

Keywords: Debt; Interactions; Income distribution; Regime switching; Fluctuations; E32; E37; E42 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s11403-012-0091-8

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