Credit Markets and the Distribution of Income
This book is a theoretical and mathematical survey of the effects of credit constraints on individual and, by extension, general economic welfare. The book observes the impact of credit constraints over generations and deals with questions of dynastic wealth and poverty. The model constructed in the book explains why polarization between wealth and poverty exists and persists.
- Hardback | 192 pages
- 152.9 x 228.6 x 13mm | 298.59g
- 22 May 1992
- Elsevier Science Publishing Co Inc
- Academic Press Inc
- San Diego, United States
- 2nd edition
Table of contents
Life cycle theory with credit constraints; distributional implications of credit constraints; differing borrowing and lending rates; intergenerational implications of credit constraints; credit constraints and work leisure choice; labour market structure; housing tenure choice; extensions and applications.