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Inequality and Crisis: Conspicuous Consumption as the Missing Link in the Portuguese Case

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Abstract

Portuguese household debt increased above GDP between 2000 and 2007. This article uses conspicuous consumption to explain credit demand dynamics. The author develops an institutionalist framework and consider how rapid high inequalities and increasing top income share favored conspicuous consumption and climbing household debt.

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  • Cristina Matos, 2019. "Inequality and Crisis: Conspicuous Consumption as the Missing Link in the Portuguese Case," Journal of Economic Issues, Taylor & Francis Journals, vol. 53(1), pages 26-38, January.
    • Handle: RePEc:mes:jeciss:v:53:y:2019:i:1:p:26-38
    DOI: 10.1080/00213624.2019.1556999
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    Cited by:

    1. Diego Martínez-Navarro & Ignacio Amate-Fortes & Almudena Guarnido-Rueda, 2020. "Inequality and development: is the Kuznets curve in effect today?," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 37(3), pages 703-735, October.
    2. Jianu, Ionut & Gavril, Ioana Andrada & Iacob, Silvia Elena & Hrebenciuc, Andrei, 2021. "Income Inequalities and their Social Determinants: an Analysis over Developed vs. Developing EU Member States," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 55(2), pages 125-142.
    3. Xinhua Gu & Chun Kwok Lei & Qingbin Zhao & Nian Liu, 2024. "Different experiences of Asian emerging‐market economies in the two major financial crises," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3286-3308, July.

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