In his widely discussed book 'Fault Lines'(2010), Raghuram Rajan argues that many low
and middle income consumers have reduced their saving and increased debt since income …

Rising inequality reduced income growth for the bottom 95% of the US personal income
distribution beginning about 1980. To maintain stable debt to income, this group's …

Finance is a vital ingredient for economic growth, but there can also be too much of it. This
study investigates what fifty years of data for OECD countries have to say about the role of …

This paper argues that interest on consumer debt must be taken into account when
measuring poverty and inequality. These interest payments cannot be used to support …

This paper explores the determinants of household debt composition in Malaysia. By
utilizing the bound test and Autoregressive Distributed Lag (ARDL) modelling approach …

The current study investigated ventromedial prefrontal cortex (VMPFC) activity during
impression formation of individuals varying on distinct dimensions of social status. In a block …

This paper updates and extends my earlier work on how the middle class fares throughout
the world based on the microdata sets that comprise the Luxembourg Income Study (LIS) …

Rising current account imbalances around the globe preceded the Great Recession in the
late 2000s. These imbalances narrowed significantly during the crisis mainly due to a …

Functional neuroimaging research suggests that status-based evaluations may not solely
depend on the level of social status but also on the conferred status dimension. However, no …

This challenging book examines the origins and dynamics of financialeconomic crises. Its
wide theoretical scope incorporates the theories of Marx, Keynes and various other Post …