Forget The Wealth Effect
The “wealth effect” concept is remarkably simple: spending increases (decreases) as perceived wealth increases (decreases). When people perc
Forget The Wealth Effect: It’s Time to Focus on The Income Effect to Understand the Sluggish Economy
Government Shutdown Strands Departments of Education, HHS with Few Staff, No Money
Congress spent the final moments of fiscal year 2013 last night in the throes of a debate over funding the government.