events within a Minsky-Veblen Cycle. To illustrate this claim we introduce conspicuous consumption concerns, as described by … equality leads to a corresponding increase in debt-financed consumption demand. Here Minskyian dynamics come into play …-financed consumption boom. As the solvency of households decreases and interest rates move up, banks reduce lending, triggering household …

and Steven Marglin in the early 1990s, by incorporating relative consumption concerns. Specifically, it integrates the … Veblenian concept of conspicuous consumption into a typical Bhaduri-Marglin model by assuming that relative consumption concerns … in workers' income is distributed unevenly, efforts to keep up with the Joneses may increase consumption and, hence, lead …

-depressing effects of raising inequality via debt and wealth-based consumption. Likewise, it is argued that decreasing personal income …

Consumption theory has always been a neglected field in post-Keynesian economics, whereas it is at the center of New … importance for consumption theory of an adequate treatment of risk and uncertainty on the one hand, and the role of social norms …

Consumption theory has always been a neglected eld in Post Keynesian economics, whereas it is at the center of New … questions, still remain. Building on insights from Economic Sociology and Behavioral Economics, the importance for consumption …

We develop a Keynesian model of aggregate consumption. Our theory emphasizes the importance of the relative income … hypothesis and debt finance for understanding household consumption behavior. It is shown that particular importance attaches to … savings by these households creates the potential for 'sudden stops' in consumption spending (and hence aggregate demand). An …

income distribution went deeply into debt to maintain consumption growth despite their stagnant income growth. But we argue …

able to take into account consumption dynamics. In the model, households derive utility from consumption, and they relate … their purchase behavior to consumption planning. We illustrate our model for yogurt purchases, and show that our model …

production and consumption, on long run economic growth and income distribution. To accomplish with such a broad aim, we develop … income of workers/consumers; and (iii) the consequent changes in consumption patterns. The model thus articulates the links … consumption patterns on the demand side. We first analyse the model's properties, via numerical simulations, for a given setting …