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Item Details
| Title:
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FINANCIAL ASSETS, DEBT AND LIQUIDITY CRISES
A KEYNESIAN APPROACH |
| By: |
Matthieu Charpe, Carl Chiarella, Peter Flaschel |
| Format: |
Electronic book text |
| List price:
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£102.00 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0511792549 |
| ISBN 13: |
9780511792540 |
| Publisher: |
CAMBRIDGE UNIVERSITY PRESS |
| Pub. date: |
5 August, 2011 |
| Description: |
This book shows how the Keynesian approach to business cycles can be used to explain and understand the current financial crisis. |
| Synopsis: |
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. |
| Illustrations: |
94 b/w illus. 46 tables |
| Publication: |
UK |
| Imprint: |
Cambridge University Press (Virtual Publishing) |
| Returns: |
Non-returnable |
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