The Irreversibility of Consumption as a Source of Endogenous Demand-driven Economic Growth
In advanced capitalist economies, the asymmetry of aggregate consumption, which decreases to a lesser extent during recessions than it increases during expansions, implies an endogenous source of growth and accumulation. This thesis, put forward in a previous paper co-authored with Pierangelo Garegnani, is here scrutinized in detail and developed in terms of more general assumptions. The connection with similar assumptions on consumption to be found in the literature is also examined and some implications of the hypothesis are drawn regarding the significance of the savings rate.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 23 (2011)
Issue (Month): 4 (October)
|Contact details of provider:|| Web page: http://www.tandfonline.com/CRPE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CRPE20|
When requesting a correction, please mention this item's handle: RePEc:taf:revpoe:v:23:y:2011:i:4:p:537-556. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.