2013
DOI: 10.2139/ssrn.2205524
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Inequality and Household Finance During the Consumer Age

Abstract: Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in… Show more

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Cited by 42 publications
(19 citation statements)
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“…Several other heterodox authors -including Foster and Magdoff (2009), Hein (2012), Palley (2012), Cynamon and Fazzari (2013) and van Treeck (2014) -have offered analyses that substantially overlap with ours. They show that prior to the crisis a structural demand gap in the US, caused by the fact that wages were increasing more slowly than productivity, was hidden by the growth of the financial sector and increasing household debt of the bottom 95 per cent.…”
Section: Income Inequality and Debt-and Export-driven Growthmentioning
confidence: 65%
“…Several other heterodox authors -including Foster and Magdoff (2009), Hein (2012), Palley (2012), Cynamon and Fazzari (2013) and van Treeck (2014) -have offered analyses that substantially overlap with ours. They show that prior to the crisis a structural demand gap in the US, caused by the fact that wages were increasing more slowly than productivity, was hidden by the growth of the financial sector and increasing household debt of the bottom 95 per cent.…”
Section: Income Inequality and Debt-and Export-driven Growthmentioning
confidence: 65%
“…() further develop this framework by introducing a consumption function with habit formation. This extension allows the authors to shed light on the empirical finding by Cynamon and Fazzari () and Perugini et al . (), among others, that the redistribution of income toward the top earners observed since the 1980s has not resulted in stagnation due to the increase in the availability of consumer credit and the consequent use of leverage to finance consumption by the poorest households.…”
Section: Sfc‐ab Models: Toward a New Benchmark?mentioning
confidence: 90%
“…It should be noted that the overall increase in the household debt level observed from the data was mainly concentrated among the households outside the top of the income distribution (Barba & Pivetti ; Cynamon & Fazzari ; Debelle ). This is illustrated in Figure .…”
Section: Introductionmentioning
confidence: 85%