The Simple Analytics of Debt-driven Business Cycles

Thomas Palley

Chapter 4 in Financialization, 2013, pp 62-81 from Palgrave Macmillan

Abstract: Abstract Chapter 3 presented a static stages of development model of financial-ization. A key feature was increasing debt and debt burdens in both the household and corporate sector. This chapter explores how debt can give rise to boom–bust business cycles.

Keywords: Business Cycle; Asset Price; Aggregate Demand; Debt Service; Investment Spending (search for similar items in EconPapers)
Date: 2013
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Working Paper: The Simple Analytics of Debt-Driven Business Cycles (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-26582-1_4

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DOI: 10.1057/9781137265821_4

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