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New Perspectives on Business Cycles

Author

Listed:
  • Satya P. Das

Abstract

Arguing that changes in the distribution of wealth and income in a private market economy can generate variations in the aggregate output, Professor Das uses a series of models to relate economic inequalities across households to fluctuations in the economy. In particular, he argues that severe inequities in wealth and income distribution can lead to fluctuations in a macroeconomy, with important implications for the financial markets. Empirical evidence from the post-war US economy is presented in support of this theory.

Suggested Citation

  • Satya P. Das, 1993. "New Perspectives on Business Cycles," Books, Edward Elgar Publishing, number 120.
    • Handle: RePEc:elg:eebook:120
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    File URL: http://www.e-elgar.com/shop/isbn/9781852788001
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    Citations

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    Cited by:

    1. Kiyotaki, Nobuhiro & Moore, John, 1997. "Credit Cycles," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 211-248, April.
    2. Satya P. Das, "undated". "North-South Trade, Capital Accumulation and Personal Distribution of Wealth and Income," EPRU Working Paper Series 99-16, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    3. P. Jenkins, Stephen & Jäntti, Markus, 2001. "Examining the impact of macro-economic conditions on income inequality," ISER Working Paper Series 2001-17, Institute for Social and Economic Research.
    4. Murat F. Iyigun & Ann L. Owen, 2004. "Income inequality, financial development, and macroeconomic fluctuations," Economic Journal, Royal Economic Society, vol. 114(495), pages 352-376, April.
    5. Murat F. Iyigun & Ann L. Owen, 1997. "Income inequality and macroeconomic fluctuations," International Finance Discussion Papers 586, Board of Governors of the Federal Reserve System (U.S.).

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • L0 - Industrial Organization - - General
    • D0 - Microeconomics - - General

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