članak: 1 od 1  
Ekonomski anali
2009, vol. 54, br. 182, str. 119-131
jezik rada: engleski
kratki članak
doi:10.2298/EKA0982119G

Constraints on credit, consumer behavior and the dynamics of wealth
(naslov ne postoji na srpskom)
Escola Superior de Comunicação Social, Lisbon, Portugal

Sažetak

(ne postoji na srpskom)
This paper develops a simple macroeconomic model where the pattern of wealth accumulation is determined by a credit multiplier and the way households react to short-term fluctuations. Given this setup, long term wealth dynamics are eventually characterized by the presence of endogenous cycles.

Ključne reči

credit constraints; financial development; consumer confidence; endogenous business cycles; nonlinear dynamics

Reference

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