Authors: Piero Benazzo
Growing literature assesses inequality would drag effective demand in the economy, acting as a main causation factor of the contemporary economic recession cycle. The debate would remain open because such causation would remain hidden within the current macroeconomic representation and underneath the aggregation of the available statistical data. The aim is to investigate an alternative framework intended to contribute in disentangling such hidden dynamics. This considers total factor productivity and the level of inequality as macroeconomic factors of production and demand, rather than capital and labour. The analysis discusses an inequality trap and availability of statistical data appropriate to the modelling proposed. This would provide considerations for extracting inequality data conform to the modelling and show finding certain data for such equations is challenging.
Comments: 27 Pages.
[v1] 2016-07-02 21:20:54
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