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Disaggregated savings. Some implications for a capital-based macroeconomic framework
Ahorro desagregado. Algunas implicaciones para el enfoque de la macroeconomía basada en el capital
DOI:
https://doi.org/10.15446/cuad.econ.v42n88.102922Palabras clave:
Business cycles, cash-build savings, term structure of savings, money demand (en)ciclo económico, ahorro en efectivo, estructura temporal del ahorro, demanda de dinero (es)
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As Bagus and Howden (2010) highlighted, one of the paths to achieve a more fruitful understanding of the business cycle involves examining saving as a heterogeneous analytical category. The aim of this paper is to continue this line of inquiry using the capital-based framework developed by Garrison (2001). This paper contributes to the literature by studying the impact of heterogenous savings on economic growth and business cycles in a capital-based macroeconomics framework. With this aim the implications of disaggregated saving is analysed by means of the differential market signals that are generated by cash-build savings (Pătruți, 2017) and loanable funds accessible through the credit markets.
Como destacan Bagus y Howden (2010), uno de los caminos para lograr una comprensión más fructífera del ciclo económico pasa por estudiar el ahorro como una categoría analítica heterogénea. El objetivo de este artículo es continuar esta línea de investigación utilizando el marco basado en el capital desarrollado por Garrison (2001). Este artículo contribuye a la literatura al estudiar el impacto del ahorro heterogéneo en el crecimiento y los ciclos económicos en un marco macroeconómico basado en el capital. Con este objetivo, se analizan las implicaciones del ahorro desagregado mediante las señales de mercado diferenciales que generan los ahorros en efectivo y los fondos prestables a través de los mercados de crédito.
Referencias
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