Deflation and Inflation Dynamics with Debt

Thomas Palley

Chapter 5 in Financialization, 2013, pp 82-102 from Palgrave Macmillan

Abstract: Abstract A hallmark of financialization has been massive increase in inside debt (debt contracted between private sector borrowers and lenders).1 Increased debt has played a critical role within the corporate sector, financing leveraged buyouts and transforming corporate cash flows into interest payments that squeeze workers by limiting financial resources available for wage payments.

Keywords: Price Level; Money Supply; Real Interest Rate; Aggregate Demand; Money Demand (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-26582-1_5

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DOI: 10.1057/9781137265821_5

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