This book studies the relationships between aggregate demand, inequality and instability. It extends the traditional approach by introducing wealth and inequality into a dynamic macroeconomic model. Furthermore, it examines the role that debt and financial instability can play in turbulent times such as the Great Recession and its aftermath.
Unlike Piketty, the author analyzes the relationships between instability and inequality, and the feedbacks from the latter to the former, in a system approach where real and monetary factors interact to generate complex patterns. The book does not discover 'iron laws' because the results depend on the nature of the model, the values of the parameters and the policy pursued. However, the role of inequality is proven to play a decisive role in shaping dynamics. Finally, the author discusses the link between medium and long- run problems, and the challenges that remain to be faced.
Piero Ferri's original application of economic principles to the topic of inequality will make this book essential reading for all economists, particularly those of a macro orientation.
| ISBN: | 9781786433046 |
| Publication date: | 30th December 2016 |
| Author: | Piero Ferri |
| Publisher: | Edward Elgar Publishing |
| Format: | Hardback |
| Pagination: | 192 pages |
| Series: | New Directions in Modern Economics |
| Genres: |
Macroeconomics Economic theory and philosophy |
This book studies the relationships between aggregate demand, inequality and instability. It extends the traditional approach by introducing wealth and inequality into a dynamic macroeconomic model. Furthermore, it examines the role that debt and financial instability can play in turbulent times such as the Great Recession and its aftermath.
Unlike Piketty, the author analyzes the relationships between instability and inequality, and the feedbacks from the latter to the former, in a system approach where real and monetary factors interact to generate complex patterns. The book does not discover 'iron laws' because the results depend on the nature of the model, the values of the parameters and the policy pursued. However, the role of inequality is proven to play a decisive role in shaping dynamics. Finally, the author discusses the link between medium and long- run problems, and the challenges that remain to be faced.
Piero Ferri's original application of economic principles to the topic of inequality will make this book essential reading for all economists, particularly those of a macro orientation.
Aggregate Demand, Inequality and Instability features in the following genres: Macroeconomics, Economic theory and philosophy
Aggregate Demand, Inequality and Instability is available in Hardback
Aggregate Demand, Inequality and Instability was written by Piero Ferri and published by Edward Elgar Publishing
Aggregate Demand, Inequality and Instability has 192 pages
Yes it is part of New Directions in Modern Economics series