New Perspectives on Business Cycles

Satya P. Das

in Books from Edward Elgar Publishing

Abstract: Arguing that changes in the distribution of wealth and income in a private market economy can generate variations in the aggregate output, Professor Das uses a series of models to relate economic inequalities across households to fluctuations in the economy. In particular, he argues that severe inequities in wealth and income distribution can lead to fluctuations in a macroeconomy, with important implications for the financial markets. Empirical evidence from the post-war US economy is presented in support of this theory.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D0 L0 (search for similar items in EconPapers)
Date: 1993
ISBN: 9781852788001
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Citations: View citations in EconPapers (6)

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