The macroeconomic implications of consumpion: state-of-art and prospects for the heterodox future research
Fecha
2015-05Autor
Brochier, Lídia
Macedo e Silva, Antonio Carlos
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The recent US economic scenario has motivated a series of heterodox
papers concerned with household indebtedness and consumption.
Though discussing autonomous consumption, most of the theoretical
papers rely on private investment-led growth models. An alternative
approach is the so-called Sraffi an supermultipler model, which treats
long-run investment as induced, allowing for the possibility that other
fi nal demand components – including consumption – may lead long-
run growth. We suggest that the dialogue between these approaches
is not only possible but may prove to be quite fruitful