The Macroeconomic Implications of Consumption: State-of-Art and Prospects for the Heterodox Future Research

Brochier, L. and Macedo e Silva, A.C. (2017). The Macroeconomic Implications of Consumption: State-Of-Art and Prospects for the Heterodox Future Research. Revista Análise Econômica, v.35, edição especial. doi: 10.22456/2176-5456.65689

33 Pages Posted: 20 Dec 2018

See all articles by Lídia Brochier

Lídia Brochier

Universidade Federal do Rio de Janeiro (UFRJ) - Institute of Economics

Antônio Carlos Macedo e Silva

Universidade Estadual de Campinas (UNICAMP) - Instituto de Economia

Date Written: December 26, 2016

Abstract

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 Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final 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.

Keywords: consumption; household debt; growth theories; autonomous expenditures

JEL Classification: B59; E12; E21

Suggested Citation

Brochier, Lídia and Macedo e Silva, Antônio Carlos, The Macroeconomic Implications of Consumption: State-of-Art and Prospects for the Heterodox Future Research (December 26, 2016). Brochier, L. and Macedo e Silva, A.C. (2017). The Macroeconomic Implications of Consumption: State-Of-Art and Prospects for the Heterodox Future Research. Revista Análise Econômica, v.35, edição especial. doi: 10.22456/2176-5456.65689 , Available at SSRN: https://ssrn.com/abstract=3294286

Lídia Brochier (Contact Author)

Universidade Federal do Rio de Janeiro (UFRJ) - Institute of Economics ( email )

Rio de Janeiro, 22290-240
Brazil
+5521990532399 (Phone)

Antônio Carlos Macedo e Silva

Universidade Estadual de Campinas (UNICAMP) - Instituto de Economia ( email )

Sao Paulo, Campinas
Brazil

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