{"product_id":"new-perspectives-on-business-cycles-an-analysis-of-inequality-and-heterogeneity-9781852788001","title":"New Perspectives on Business Cycles: An Analysis","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eTraditional aggregate theories of the business cycle, Keynesian or the neoclassical, have not succeeded in explaining the severe down turns in the United States and other advanced economies. \u003ci\u003eNew Perspectives on Business Cycles\u003c\/i\u003e proposes a theory that economic inequality and heterogeneity in a market economy may be an important influence on business cycles.  The author, Satya Das, provides for the first time a systematic assessment of possible links between business cycles and changes in the distribution of income and wealth.\u003cp\u003eArguing that changes in the distribution of wealth and income in a private market economy can generate variations in the aggregate output, Professor Das uses a series of models to relate economic inequalities across households to fluctuations in the economy.  In particular, he argues that severe inequities in wealth and income distribution can lead to fluctuations in a macroeconomy, with important implications for the financial markets.  Empirical evidence from the post-war US economy is presented in support of this theory.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\u003ci\u003e’This interesting book argues that traditional aggregate theories of the business cycle have not succeeded in explaining the recent downturn in advanced Western economies, and proposes that economic inequality and heterogeneity are important influences on business cycles. . . . Overall this is a valuable contribution to the literature on business cycles which merits careful study.’\u003c\/i\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eContents:  1. Introduction  2. Basic Premises and Methodology  3. Inequality, Heterogeneity and Business Cycles in Models of Capital Accumulation  4. Heterogeneity, Redistributive Lobbying and Business Cycles  5. Firm Heterogeneity and Business Cycles  6. Inequality, Heterogeneity and Business Cycles via Aggregate Demand  7. Inequality, Demand for Stocks and Demand for Money  8. Inequality, and the Stability of the Banking Sector  9. Preliminaries: Available Data and Correlations  10. Linkage of Income Inequality to Aggregate Output, Unemployment, Demand for Money and Stock Price: Postwar US","brand":"Edward Elgar Publishing Ltd","offers":[{"title":"Default Title","offer_id":49413964792151,"sku":"9781852788001","price":106.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781852788001.jpg?v=1730521996","url":"https:\/\/bookcurl.com\/products\/new-perspectives-on-business-cycles-an-analysis-of-inequality-and-heterogeneity-9781852788001","provider":"Book Curl","version":"1.0","type":"link"}