The theme of this extensive book is the relationship between consumption and growth in the context of the long run theory of effective demand. Taking Schumpeter's views on economic development as a starting point, the author proposes an original framework for the analysis of consumption patterns...

The first part of this report reviews the different channels of transmission of financial shocks (including regulatory changes) highlighted in the literature in the past 15 years. While a very large number of new models have been made available since the Committee's assessment of the long-term...