The Rich and the Great Recession

The Rich and the Great Recession
Most papers explaining the macro causes of the U.S. Great Recession focus on the behavior of the middle class: how its saving rate declined in the pre-crisis years, then surged following the crisis. This paper argues that the saving rate of the rich followed a similar pattern, the result of wealth effects associated with a boom-bust in asset... READ MORE...

Publication date: December 2014
ISBN 9781498307376
$18.00

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