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Financial Assets, Debt and Liquidity Crises

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  • 472 Nombre de pages
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The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cy... Lire la suite
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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.

Informations sur le produit

Titre: Financial Assets, Debt and Liquidity Crises
Sous-titre: A Keynesian Approach
Auteur:
EAN: 9781139098281
ISBN: 978-1-139-09828-1
Format: eBook (pdf)
Producteur: Cambridge University Press
Editeur: Cambridge University Press
Genre: Économie
Parution: 21.07.2011
Protection contre la copie numérique: Adobe DRM
Nombre de pages: 472
Année: 2011