Financial assets, debt, and liquidity crises : a Keynesian approach /
Charpe, Matthieu.
Financial assets, debt, and liquidity crises : a Keynesian approach / Matthieu Charpe [and three others]. - 1 online resource (xxiv, 432 pages) : digital, PDF file(s).
Title from publisher's bibliographic system (viewed on 14 Jan 2016).
The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cycles are driven by specific sectors of the economy. In the financial meltdown of the years 2007-9 it was the credit sector and the real-estate sector that were the main driving forces. This book takes on the challenge of interpreting and modelling this meltdown. In doing so it revives the traditional Keynesian approach to the financial-real economy interaction and the business cycle, extending it in several important ways. In particular, it adopts the Keynesian view of a hierarchy of markets and introduces a detailed financial sector into the traditional Keynesian framework. The approach of the book goes beyond the currently dominant paradigm based on the representative agent, market clearing and rational economic agents. Instead it proposes an economy populated with heterogeneous, rationally bounded agents attempting to cope with disequilibria in various markets.
9780511792540 (ebook)
Macroeconomics.
Business cycles.
Financial crises.
Keynesian economics.
HB172.5 / .C451 2011
330.9/0511
Financial assets, debt, and liquidity crises : a Keynesian approach / Matthieu Charpe [and three others]. - 1 online resource (xxiv, 432 pages) : digital, PDF file(s).
Title from publisher's bibliographic system (viewed on 14 Jan 2016).
The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cycles are driven by specific sectors of the economy. In the financial meltdown of the years 2007-9 it was the credit sector and the real-estate sector that were the main driving forces. This book takes on the challenge of interpreting and modelling this meltdown. In doing so it revives the traditional Keynesian approach to the financial-real economy interaction and the business cycle, extending it in several important ways. In particular, it adopts the Keynesian view of a hierarchy of markets and introduces a detailed financial sector into the traditional Keynesian framework. The approach of the book goes beyond the currently dominant paradigm based on the representative agent, market clearing and rational economic agents. Instead it proposes an economy populated with heterogeneous, rationally bounded agents attempting to cope with disequilibria in various markets.
9780511792540 (ebook)
Macroeconomics.
Business cycles.
Financial crises.
Keynesian economics.
HB172.5 / .C451 2011
330.9/0511