Constraints on credit, consumer behaviour and the dynamics of wealth

Orlando Gomes

MPRA Paper from University Library of Munich, Germany

Abstract: This note develops a simple macro model where the pattern of wealth accumulation is determined by a credit multiplier and by the way households react to short run fluctuations. In this setup, long term wealth dynamics are eventually characterized by the presence of endogenous cycles.

Keywords: Credit constraints; Financial development; Consumer confidence; Endogenous business cycles; Nonlinear dynamics (search for similar items in EconPapers)
JEL-codes: C61 E32 O41 (search for similar items in EconPapers)
Date: 2007-01
New Economics Papers: this item is included in nep-dge and nep-mac
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https://mpra.ub.uni-muenchen.de/2886/1/MPRA_paper_2886.pdf original version (application/pdf)

Related works:
Journal Article: CONSTRAINTS ON CREDIT, CONSUMER BEHAVIOUR AND THE DYNAMICS OF WEALTH (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:2886

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