How does high-income household spending impact the income of the working class?
28 April 2025
Paolo Surico, Professor of Economics, discusses his research on how the spending of the rich drives the income of the poor, and why this matters for the business cycle. When high income households reduce their spending, low-income workers see a decline in their earnings.
Paolo Surico, Professor of Economics, discusses his research on how the spending of the rich drives the income of the poor, and why this matters for the business cycle. When high income households reduce their spending, low-income workers see a decline in their earnings.