Can I read Inequality, Consumer Credit And The Saving Puzzle (New Directions in Modern Economics) on EtoBox?

Inequality, Consumer Credit And The Saving Puzzle (New Directions in Modern Economics) by Christopher Brown is a book available to read on EtoBox.

What is Inequality, Consumer Credit And The Saving Puzzle (New Directions in Modern Economics) about?

Providing much needed context for current events like the sub-prime mortgage crisis, this timely book presents a vision of an economy evolved to greater dependence on consumer credit and analyzes the trade-offs and risks associated with it. While synthesizing the Keynesian theory of consumption with the Institutional theory of habit selection (brought up to date with new knowledge from evolutionary biology and neuroscience), this book represents an in-depth treatment of the macroeconomic dimensions of consumer credit and implications of recent financial innovations from a non-traditional economic approach.Some of the effects of consumer credit dependence include the potential for illiquidity in markets for debt-collateralized securities, sub-prime contagion, or the possibility of a Minsky-type debt deflation episode. The author also argues that a sharp increase in borrowing by US households over the past 20 years, aided by financial innovations such as the securitization of consumer loans and sub-prime lending, have lessened the harmful consequences of income inequality, and that the collapse of personal saving after 1993 is actually a gradual trend of consumer habits conforming to

Author

Christopher Brown

Publisher

Edward Elgar Publishing Ltd

Published

2008

Language

EN

ISBN

9781848443808

Subjects

Economics, Finance, Business