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Aggregate Demand, Inequality and Instability (Hardcover)
Loot Price: R2,659
Discovery Miles 26 590
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Aggregate Demand, Inequality and Instability (Hardcover)
Series: New Directions in Modern Economics series
Expected to ship within 12 - 17 working days
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Total price: R2,679
Discovery Miles: 26 790
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This book studies the relationships between aggregate demand,
inequality and instability. It extends the traditional approach by
introducing wealth and inequality into a dynamic macroeconomic
model. Furthermore, it examines the role that debt and financial
instability can play in turbulent times such as the Great Recession
and its aftermath. Unlike Piketty, the author analyzes the
relationships between instability and inequality, and the feedbacks
from the latter to the former, in a system approach where real and
monetary factors interact to generate complex patterns. The book
does not discover 'iron laws' because the results depend on the
nature of the model, the values of the parameters and the policy
pursued. However, the role of inequality is proven to play a
decisive role in shaping dynamics. Finally, the author discusses
the link between medium and long- run problems, and the challenges
that remain to be faced. Piero Ferri's original application of
economic principles to the topic of inequality will make this book
essential reading for all economists, particularly those of a macro
orientation.
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