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- W2509138664 abstract "Sticky aggregate consumption is a demonstrable phenomenon in economies throughout the world, but to our knowledge it has not yet been incorporated into capital structure macroeconomics. Doing so suggests an explanation for business cycles. On the heels of a technological advance, sticky consumption facilitates increased savings and lower real interest rates. These lower rates lead to accelerating elongations in the capital structure. Even though such elongations facilitate more rapid economic growth, such structural changes are accompanied by increased risk and an increased likelihood of systematic entrepreneurial error. Exposure of such error causes the economy to contract." @default.
- W2509138664 created "2016-09-16" @default.
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- W2509138664 date "2016-01-01" @default.
- W2509138664 modified "2023-09-27" @default.
- W2509138664 title "Can Sticky Consumption Cause Business Cycles?" @default.
- W2509138664 doi "https://doi.org/10.2139/ssrn.2817522" @default.
- W2509138664 hasPublicationYear "2016" @default.
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