A Note On Some Minsky an Models of Financial Instability

Sébastien Charles

Description

Niveau: Supérieur, Doctorat, Bac+8
A NOTE ON SOME MINSKYAN MODELS OF FINANCIAL INSTABILITY Sébastien CHARLES? University of Paris 8 Department of Economics (LED-EPEH) 2, rue de la liberté 93526 Saint-Denis, France Abstract Today, numerous Post-Keynesian authors use Minsky's financial instability hypothesis in order to elaborate models that give rise to financial crises or endogenous cycles. But these latters are often extremely complicated. Besides, other minskyan contributions which are analytically tractable suffer, unfortunately, from few flaws which make them inconsistent. Therefore, we propose an introductory model of accumulation and debt which corrects these errors and shows the appearance of financial fragility in a simple way. Keywords : Minsky, Accumulation, Debt, Financial fragility JEL Classification : E 12, E 21, E 22, E 44 ? Address for correspondence : CHARLES Sébastien, 115 Bd Jean Jaurès, 92110 Clichy (France). Tel : . Email : .

• unique propensity


• models give


• dgkdd ?


• accumulation


• financial charges


• always analytically tractable


• post-keynesians macroeconomics


• keynesian saving


• minskyan models


• minsky's financial

Sujets

• Charles
• Accumulation

Informations

• Publié par: profil-zyak-2012
• Nombre de lectures: 25
• Langue: English

Extrait

A NOTE ON SOME MINSKYAN MODELS

OF FINANCIAL INSTABILITY

∗ Sébastien CHARLES

University of Paris 8

Department of Economics (LED-EPEH)

2, rue de la liberté

93526 Saint-Denis, France

Abstract

Today, numerous Post-Keynesian authors use Minsky’s financial instability hypothesis in

order to elaborate models that give rise to financial crises or endogenous cycles. But these

latters are often extremely complicated. Besides, other minskyan contributions which are

analytically tractable suffer, unfortunately, from few flaws which make them inconsistent.

Therefore, we propose an introductory model of accumulation and debt which corrects these

errors and shows the appearance of financial fragility in a simple way.

Keywords :Minsky, Accumulation, Debt, Financial fragility

JEL Classification :E 12, E 21, E 22, E 44

∗ Address for correspondence : CHARLES Sébastien, 115 Bd Jean Jaurès, 92110 Clichy (France). Tel : [phone]. Email : [e-mail].