메뉴 건너뛰기




Volumn 40, Issue 2, 2016, Pages 373-399

Inequality, the great recession and slow recovery

Author keywords

Aggregate demand; Consumption; Inequality; Saving

Indexed keywords

CONSUMPTION BEHAVIOR; DEBT; INCOME DISTRIBUTION; SAVINGS;

EID: 84959900603     PISSN: 0309166X     EISSN: 14643545     Source Type: Journal    
DOI: 10.1093/cje/bev016     Document Type: Article
Times cited : (126)

References (67)
  • 1
    • 84873422438 scopus 로고    scopus 로고
    • Has Consumption Inequality Mirrored Income Inequality?
    • NBER Working Paper no. w16807
    • Aguiar, M. A. and Bils, M. 2011. 'Has Consumption Inequality Mirrored Income Inequality?', NBER Working Paper no. w16807
    • (2011)
    • Aguiar, M.A.1    Bils, M.2
  • 2
    • 33644790625 scopus 로고    scopus 로고
    • Précis of breakdown of will
    • Ainslie, G. 2005. Précis of breakdown of will, Behavioral and Brain Sciences, vol. 28, no. 5, 635-73
    • (2005) Behavioral and Brain Sciences , vol.28 , Issue.5 , pp. 635-673
    • Ainslie, G.1
  • 4
    • 58649097510 scopus 로고    scopus 로고
    • Rising household debt: its causes and macroeconomic implications-a long-period analysis
    • Barba, A. and Pivetti, M. 2009. Rising household debt: its causes and macroeconomic implications-a long-period analysis, Cambridge Journal of Economics, vol. 33, no. 1, 113-37
    • (2009) Cambridge Journal of Economics , vol.33 , Issue.1 , pp. 113-137
    • Barba, A.1    Pivetti, M.2
  • 5
    • 0001188499 scopus 로고
    • Reference group influence on product and brand purchase decisions
    • Bearden, W. O. and Etzel, M. J. 1982. Reference group influence on product and brand purchase decisions, Journal of Consumer Research, vol. 9, no. 2, 183-94
    • (1982) Journal of Consumer Research , vol.9 , Issue.2 , pp. 183-194
    • Bearden, W.O.1    Etzel, M.J.2
  • 6
    • 84958834895 scopus 로고    scopus 로고
    • Income Distribution, Aggregate Demand and Current Account: A Sectoral Perspective
    • IMK Working Paper 125-2013
    • Behringer, J. and van Treeck, T. 2013. 'Income Distribution, Aggregate Demand and Current Account: A Sectoral Perspective', IMK Working Paper 125-2013
    • (2013)
    • Behringer, J.1    Van Treeck, T.2
  • 7
    • 84958944327 scopus 로고    scopus 로고
    • Income Distribution and Current Account Imbalances
    • IMK Working Paper 126-2013
    • Belabed, C. A., Theobald, T. and van Treeck, T. 2013. 'Income Distribution and Current Account Imbalances', IMK Working Paper 126-2013
    • (2013)
    • Belabed, C.A.1    Theobald, T.2    Van Treeck, T.3
  • 8
    • 84885095793 scopus 로고    scopus 로고
    • Trickle-Down Consumption
    • NBER Working Paper no. w18883
    • Bertrand, M. and Morse, A. 2013. 'Trickle-Down Consumption', NBER Working Paper no. w18883
    • (2013)
    • Bertrand, M.1    Morse, A.2
  • 9
    • 37749040189 scopus 로고    scopus 로고
    • Has growing inequality contributed to rising household economic distress?
    • Boushey, H. and Weller, C. E. 2008. Has growing inequality contributed to rising household economic distress?, Review of Political Economy, vol. 20, no. 1, 1-22
    • (2008) Review of Political Economy , vol.20 , Issue.1 , pp. 1-22
    • Boushey, H.1    Weller, C.E.2
  • 10
    • 4043075010 scopus 로고    scopus 로고
    • Does income distribution matter for effective demand? Evidence from the United States
    • Brown, C. 2004. Does income distribution matter for effective demand? Evidence from the United States, Review of Political Economy, vol. 16, no. 3, 291-307
    • (2004) Review of Political Economy , vol.16 , Issue.3 , pp. 291-307
    • Brown, C.1
  • 11
    • 84958741461 scopus 로고    scopus 로고
    • Relative income and indebtedness: evidence from panel data
    • Carr, M. and Jayadev, A. 2014. Relative income and indebtedness: evidence from panel data, Review of Income and Wealth, doi:10.1111/roiw.12134
    • (2014) Review of Income and Wealth
    • Carr, M.1    Jayadev, A.2
  • 12
    • 21144471607 scopus 로고
    • The influence of familial and peer-based reference groups on consumer decisions
    • Childers, T. L. and Rao, A. R. 1992. The influence of familial and peer-based reference groups on consumer decisions, Journal of Consumer Research, vol. 19, no. 2, 198-211
    • (1992) Journal of Consumer Research , vol.19 , Issue.2 , pp. 198-211
    • Childers, T.L.1    Rao, A.R.2
  • 13
    • 84894213231 scopus 로고    scopus 로고
    • available at, Supplemental Tables available at, date last accessed 10 September 2012
    • Congressional Budget Office. 2012. The distribution of household income and federal taxes, 2008 and 2009, available at http://www.cbo.gov/sites/default/files/cbofiles/attachments/43373-06-11-HouseholdIncomeandFedTaxes.pdf; Supplemental Tables available at http://www.cbo.gov/sites/default/files/cbofiles/attachments/43373-Supplemental_Tables_Final.xls [date last accessed 10 September 2012]
    • (2012) The distribution of household income and federal taxes, 2008 and 2009
  • 15
    • 70350065470 scopus 로고    scopus 로고
    • Household debt in the consumer age: source of growth-risk of collapse
    • Cynamon, B. Z. and Fazzari, S. M. 2008. Household debt in the consumer age: source of growth-risk of collapse, Capitalism and Society, vol. 3, no. 2
    • (2008) Capitalism and Society , vol.3 , Issue.2
    • Cynamon, B.Z.1    Fazzari, S.M.2
  • 16
    • 84924095071 scopus 로고    scopus 로고
    • The end of the consumer age
    • Cynamon, B. Z., Fazzari, S. M., and Setterfield, M. (eds), New York, Cambridge University Press
    • Cynamon, B. Z. and Fazzari, S. M. 2013. The end of the consumer age, pp. 129-58 in Cynamon, B. Z., Fazzari, S. M., and Setterfield, M. (eds), After the Great Recession: The Struggle for Economic Recovery and Growth, New York, Cambridge University Press
    • (2013) After the Great Recession: The Struggle for Economic Recovery and Growth , pp. 129-158
    • Cynamon, B.Z.1    Fazzari, S.M.2
  • 17
    • 84880958350 scopus 로고    scopus 로고
    • Rising inequality: transitory or persistent? New evidence from a panel of U.S. tax returns
    • Debacker, J., Heim, B., Panousi, V., Ramnath, S. and Vidangos, I. 2013. Rising inequality: transitory or persistent? New evidence from a panel of U.S. tax returns, Brookings Papers on Economic Activity, vol. 2013, no. 1, 67-142
    • (2013) Brookings Papers on Economic Activity , vol.2013 , Issue.1 , pp. 67-142
    • Debacker, J.1    Heim, B.2    Panousi, V.3    Ramnath, S.4    Vidangos, I.5
  • 20
    • 52949109141 scopus 로고    scopus 로고
    • Maturity, stagnation and consumer debt: a Steindlian approach
    • Dutt, A. K. 2006. Maturity, stagnation and consumer debt: a Steindlian approach, Metroeconomica, vol. 57, no. 3, 339-64
    • (2006) Metroeconomica , vol.57 , Issue.3 , pp. 339-364
    • Dutt, A.K.1
  • 21
    • 77950923909 scopus 로고    scopus 로고
    • Why the subprime crisis is different: a Minskyian approach
    • Dymski, G. A. 2010. Why the subprime crisis is different: a Minskyian approach, Cambridge Journal of Economics, vol. 34, no. 2, 239-55
    • (2010) Cambridge Journal of Economics , vol.34 , Issue.2 , pp. 239-255
    • Dymski, G.A.1
  • 22
    • 84867188659 scopus 로고    scopus 로고
    • Is a household debt overhang holding back consumption?
    • Dynan, K. 2012. Is a household debt overhang holding back consumption?, Brookings Papers on Economic Activity, vol. 2012, no. 1, 299-362
    • (2012) Brookings Papers on Economic Activity , vol.2012 , Issue.1 , pp. 299-362
    • Dynan, K.1
  • 24
    • 26444598143 scopus 로고    scopus 로고
    • Positional externalities cause large and preventable welfare losses
    • Frank, R. H. 2005. Positional externalities cause large and preventable welfare losses, American Economic Review, vol. 95, no. 2, 137-41
    • (2005) American Economic Review , vol.95 , Issue.2 , pp. 137-141
    • Frank, R.H.1
  • 25
    • 84895876807 scopus 로고    scopus 로고
    • The contribution of wealth concentration to the subprime crisis: a quantitative estimation
    • Goda, T. and Lysandrou, P. 2014. The contribution of wealth concentration to the subprime crisis: a quantitative estimation, Cambridge Journal of Economics, vol. 38, no. 2, 301-27
    • (2014) Cambridge Journal of Economics , vol.38 , Issue.2 , pp. 301-327
    • Goda, T.1    Lysandrou, P.2
  • 28
    • 84926153852 scopus 로고    scopus 로고
    • Determinants of Global Imbalances
    • EC-IILS Joint Discussion Paper Series 4
    • International Institute for Labour Studies. 2011. 'Determinants of Global Imbalances', EC-IILS Joint Discussion Paper Series 4
    • (2011)
  • 29
    • 84959893192 scopus 로고    scopus 로고
    • Debt, Boom, Bust: A Theory of Minsky-Veblen Cycles
    • Working Paper no. 1214, Department of Economics, Johannes Kepler University of Linz
    • Kapeller, J. and Schütz, B. 2012. 'Debt, Boom, Bust: A Theory of Minsky-Veblen Cycles', Working Paper no. 1214, Department of Economics, Johannes Kepler University of Linz
    • (2012)
    • Kapeller, J.1    Schütz, B.2
  • 30
    • 76049093618 scopus 로고    scopus 로고
    • Earnings inequality and mobility in the United States: evidence from Social Security data since 1937
    • Kopczuk, W., Saez, E. and Song, J. 2010. Earnings inequality and mobility in the United States: evidence from Social Security data since 1937, Quarterly Journal of Economics, vol. 125, no. 1, 91-128
    • (2010) Quarterly Journal of Economics , vol.125 , Issue.1 , pp. 91-128
    • Kopczuk, W.1    Saez, E.2    Song, J.3
  • 31
    • 84977903137 scopus 로고    scopus 로고
    • Comment on household debt in the consumer age: source of growth-risk of collapse (by Barry Z. Cynamon and Steven M. Fazzari)
    • Korty, D. 2008. Comment on household debt in the consumer age: source of growth-risk of collapse (by Barry Z. Cynamon and Steven M. Fazzari), Capitalism and Society, vol. 3, no. 3
    • (2008) Capitalism and Society , vol.3 , Issue.3
    • Korty, D.1
  • 32
    • 33646702332 scopus 로고    scopus 로고
    • Does income inequality lead to consumption inequality? Evidence and theory
    • Krueger, D. and Perri, F. 2006. Does income inequality lead to consumption inequality? Evidence and theory, Review of Economic Studies, vol. 73, no. 1, 163-93
    • (2006) Review of Economic Studies , vol.73 , Issue.1 , pp. 163-193
    • Krueger, D.1    Perri, F.2
  • 33
    • 78650371786 scopus 로고    scopus 로고
    • Inequality, Leverage and Crises
    • IMF Working Paper
    • Kumhof, M. and Ranciere, R. 2010. 'Inequality, Leverage and Crises', IMF Working Paper
    • (2010)
    • Kumhof, M.1    Ranciere, R.2
  • 35
    • 78650371786 scopus 로고    scopus 로고
    • Inequality, Leverage and Crises: The Case of Endogenous Default
    • IMF Working Paper
    • Kumhof, M., Ranciere, R. and Winant, P. 2013. 'Inequality, Leverage and Crises: The Case of Endogenous Default', IMF Working Paper
    • (2013)
    • Kumhof, M.1    Ranciere, R.2    Winant, P.3
  • 36
    • 0038969032 scopus 로고    scopus 로고
    • Golden eggs and hyperbolic discounting
    • Laibson, D. 1997. Golden eggs and hyperbolic discounting, Quarterly Journal of Economics, vol. 112, no. 2, 443-77
    • (1997) Quarterly Journal of Economics , vol.112 , Issue.2 , pp. 443-477
    • Laibson, D.1
  • 37
    • 21844499447 scopus 로고
    • A post Keynesian approach to consumer choice
    • Lavoie, M. 1994. A post Keynesian approach to consumer choice, Journal of Post Keynesian Economics, vol. 16, no. 4, 539-62
    • (1994) Journal of Post Keynesian Economics , vol.16 , Issue.4 , pp. 539-562
    • Lavoie, M.1
  • 40
    • 0005572703 scopus 로고    scopus 로고
    • Disentangling the Wealth Effect: A Cohort Analysis of Household Saving in the 1990s
    • Federal Reserve Board Finance and Discussion Series Working Paper no. 2001-21
    • Maki, D. and Palumbo, M. 2001. 'Disentangling the Wealth Effect: A Cohort Analysis of Household Saving in the 1990s', Federal Reserve Board Finance and Discussion Series Working Paper no. 2001-21
    • (2001)
    • Maki, D.1    Palumbo, M.2
  • 42
  • 43
    • 85026958107 scopus 로고    scopus 로고
    • The Post-1980 Debt Disinflation: An Exercise in Historical Accounting
    • Working Paper
    • Mason, J. W. and Jayadev, A. 2014B. 'The Post-1980 Debt Disinflation: An Exercise in Historical Accounting', Working Paper
    • (2014)
    • Mason, J.W.1    Jayadev, A.2
  • 44
    • 77956111999 scopus 로고    scopus 로고
    • The great recession: lessons from microeconomic data
    • Mian, A. and Sufi, A. 2010A. The great recession: lessons from microeconomic data, American Economic Review, vol. 100, no. 2, 51-6
    • (2010) American Economic Review , vol.100 , Issue.2 , pp. 51-56
    • Mian, A.1    Sufi, A.2
  • 45
    • 79955007721 scopus 로고    scopus 로고
    • Household leverage and the recession of 2007-09
    • Mian, A. and Sufi, A. 2010B. Household leverage and the recession of 2007-09, IMF Economic Review, vol. 58, no. 1, 74-117
    • (2010) IMF Economic Review , vol.58 , Issue.1 , pp. 74-117
    • Mian, A.1    Sufi, A.2
  • 46
    • 84860388805 scopus 로고    scopus 로고
    • House prices, home equity-based borrowing, and the U.S. household leverage crisis
    • Mian, A. and Sufi, A. 2011. House prices, home equity-based borrowing, and the U.S. household leverage crisis, American Economic Review, vol. 101, no. 5, 2132-56
    • (2011) American Economic Review , vol.101 , Issue.5 , pp. 2132-2156
    • Mian, A.1    Sufi, A.2
  • 48
    • 79960157879 scopus 로고    scopus 로고
    • Financialisation, income distribution and aggregate demand in the USA
    • Onaran, Ö., Stockhammer, E. and Grafl, L. 2011. Financialisation, income distribution and aggregate demand in the USA, Cambridge Journal of Economics, vol. 35, no. 4, 637-61
    • (2011) Cambridge Journal of Economics , vol.35 , Issue.4 , pp. 637-661
    • Onaran, O.1    Stockhammer, E.2    Grafl, L.3
  • 49
    • 21844486219 scopus 로고
    • Debt, aggregate demand and the business cycle: an analysis in the spirit of Kaldor and Minsky
    • Palley, T. I. 1994. Debt, aggregate demand and the business cycle: an analysis in the spirit of Kaldor and Minsky, Journal of Post Keynesian Economics, vol. 16, no. 3, 371-90
    • (1994) Journal of Post Keynesian Economics , vol.16 , Issue.3 , pp. 371-390
    • Palley, T.I.1
  • 50
    • 0036740926 scopus 로고    scopus 로고
    • Economic contradictions coming home to roost? Does the U.S. economy face a long-term aggregate demand generation problem?
    • Palley, T. I. 2002. Economic contradictions coming home to roost? Does the U.S. economy face a long-term aggregate demand generation problem?, Journal of Post Keynesian Economics, vol. 25, no. 1, 9-32
    • (2002) Journal of Post Keynesian Economics , vol.25 , Issue.1 , pp. 9-32
    • Palley, T.I.1
  • 51
    • 84924093840 scopus 로고    scopus 로고
    • America's exhausted paradigm: macroeconomic causes of the financial crisis and Great Recession
    • Cynamon, B. Z., Fazzari, S. M. and Setterfield, M. (eds), New York, Cambridge University Press
    • Palley, T. I. 2013A. America's exhausted paradigm: macroeconomic causes of the financial crisis and Great Recession, pp. 31-60 in Cynamon, B. Z., Fazzari, S. M. and Setterfield, M. (eds), After the Great Recession: The Struggle for Economic Recovery and Growth, New York, Cambridge University Press
    • (2013) After the Great Recession: The Struggle for Economic Recovery and Growth , pp. 31-60
    • Palley, T.I.1
  • 58
    • 84924150242 scopus 로고    scopus 로고
    • Wages, demand, and U.S. macroeconomic travails: diagnosis and prognosis
    • Cynamon, B. Z., Fazzari, S. M. and Setterfield, M. (eds), New York, Cambridge University Press
    • Setterfield, M. 2013. Wages, demand, and U.S. macroeconomic travails: diagnosis and prognosis, pp. 158-84 in Cynamon, B. Z., Fazzari, S. M. and Setterfield, M. (eds), After the Great Recession: The Struggle for Economic Recovery and Growth, New York, Cambridge University Press
    • (2013) After the Great Recession: The Struggle for Economic Recovery and Growth , pp. 158-184
    • Setterfield, M.1
  • 60
    • 84977427532 scopus 로고
    • The behavioral life-cycle hypothesis
    • Shefrin, H. M. and Thaler, R. H. 1988. The behavioral life-cycle hypothesis, Economic Inquiry, vol. 26, no. 4, 609-43
    • (1988) Economic Inquiry , vol.26 , Issue.4 , pp. 609-643
    • Shefrin, H.M.1    Thaler, R.H.2
  • 62
    • 84929159573 scopus 로고    scopus 로고
    • Rising inequality as a cause of the present crisis
    • Stockhammer, E. 2013. Rising inequality as a cause of the present crisis, Cambridge Journal of Economics, doi:10.1093/cje/bet052
    • (2013) Cambridge Journal of Economics
    • Stockhammer, E.1
  • 63
    • 84959902116 scopus 로고    scopus 로고
    • Statistical Trends in Retirement Plans
    • 9 August, reference no. 2010-10-097
    • Treasury Inspector General for Tax Administration. 2010. 'Statistical Trends in Retirement Plans', 9 August, reference no. 2010-10-097
    • (2010)
  • 64
    • 84905166288 scopus 로고    scopus 로고
    • Measuring macroprudential risk through financial fragility: a Minskian approach
    • Tymoigne, E. 2014. Measuring macroprudential risk through financial fragility: a Minskian approach, Journal of Post Keynesian Economics, vol. 36, no. 4, 719-44
    • (2014) Journal of Post Keynesian Economics , vol.36 , Issue.4 , pp. 719-744
    • Tymoigne, E.1
  • 65
    • 84895886039 scopus 로고    scopus 로고
    • Did inequality cause the U.S. financial crisis?
    • van Treeck, T. 2013. Did inequality cause the U.S. financial crisis? Journal of Economic Surveys, vol. 28, no. 3, 421-48
    • (2013) Journal of Economic Surveys , vol.28 , Issue.3 , pp. 421-448
    • Van Treeck, T.1
  • 66
  • 67
    • 77951260584 scopus 로고    scopus 로고
    • Lessons from the subprime meltdown
    • Wray, L. R. 2008. Lessons from the subprime meltdown, Challenge, vol. 51, no. 2, 40-68
    • (2008) Challenge , vol.51 , Issue.2 , pp. 40-68
    • Wray, L.R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.