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Financial Assets, Debt and Liquidity Crises: A Keynesian Approach
By (author) Matthieu Charpe, By (author) Carl Chiarella, By (author) Peter Flaschel, By (author) Willi Semmler
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| book description |
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.
| product details |
Normally shipped |
Publisher | Cambridge University Press
Published date | 18 Dec 2011
Language |
Format | Digital download and online
Pages | 0
Dimensions | 0 x 0 x 0mm (L x W x H)
Weight | 0g
ISBN | 978-1-1390-9828-1
Readership Age |
BISAC | business & economics / economics / macroeconomics
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Mason Coile
Paperback / softback
224 pages
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A terrifying locked-room mystery set in a remote outpost on Mars.
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An epic love story with the pulse of a thriller that asks: what would you risk for a second chance at first love?
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