| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6760 |
| DP6760 The Challenge of Reducing International Trade and Migration Barriers | |
| L. Alan Winters; Kym Anderson | |
| 发表日期 | 2008-03-31 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | In most industrialized economies, financial wealth is distributed far more unequally than income. According to Wolff (2007) more than half of the American households possess almost no productive capital while realizing about 20 percent of national income. This mismatch poses a problem for the efficient aggregation of consumer needs on capital markets. Individuals use information about their own preferences as consumers to identify profitable investments. Under certain conditions, this behaviour efficiently matches future demand with productive capacity, thus replacing future markets for consumer goods. However, when wealth is distributed too unequally, capacity cannot match consumer needs. I present some first experimental evidence in favour of consumption driven investment behaviour based on real portfolio choices and self-reported preferences about consumer goods. |
| 主题 | Financial Economics ; Public Economics |
| 关键词 | Consumption driven investment Wealth distribution Capital markets Information aggregation |
| URL | https://cepr.org/publications/dp6760 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535598 |
| 推荐引用方式 GB/T 7714 | L. Alan Winters,Kym Anderson. DP6760 The Challenge of Reducing International Trade and Migration Barriers. 2008. |
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