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Aggregate Demand, Inequality and Instability

Piero Ferri
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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.
      Format: Hardback CONTRIBUTORS: Piero Ferri EAN: 9781786433046 COUNTRY: United Kingdom PAGES: WEIGHT: 0 g HEIGHT: 234 cm
      PUBLISHED BY: Edward Elgar Publishing Ltd DATE PUBLISHED: 2016-12-30 CITY: GENRE: BUSINESS & ECONOMICS / Economic Conditions, BUSINESS & ECONOMICS / Economics / Macroeconomics, BUSINESS & ECONOMICS / Economics / Theory WIDTH: 156 cm SPINE:

      Book Themes:

      Social discrimination and social justice, Economic theory and philosophy, Macroeconomics

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      Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy
      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.
      Format: Hardback CONTRIBUTORS: Piero Ferri EAN: 9781786433046 COUNTRY: United Kingdom PAGES: WEIGHT: 0 g HEIGHT: 234 cm
      PUBLISHED BY: Edward Elgar Publishing Ltd DATE PUBLISHED: 2016-12-30 CITY: GENRE: BUSINESS & ECONOMICS / Economic Conditions, BUSINESS & ECONOMICS / Economics / Macroeconomics, BUSINESS & ECONOMICS / Economics / Theory WIDTH: 156 cm SPINE:

      Book Themes:

      Social discrimination and social justice, Economic theory and philosophy, Macroeconomics

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      Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy

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