The Paradox of Tranquility Revisited. A Lotka-Volterra Model of the Financial Instability
Abstract
The aim of this paper is to describe the financial vulnerability of corporate sector by means of a simple Lotka-Volterra model. This should allow us to soften Lavoie's criticism of Minsky's "Financial Instability Hypothesis" which is based on the so called "paradox of debt".Download Info
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Bibliographic Info
Article provided by SIE - Societa' Italiana degli Economisti (I) in its journal Rivista Italiana degli Economisti.
Volume (Year): 15 (2010)
Issue (Month): 1 (April)
Pages: 69-104
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Web: http://www.mulino.it/edizioni/riviste/scheda_rivista.php?issn=1593-8662
Related research
Keywords: Financial Instability Hypothesis; Heterodox Approaches; Post-Keynesian Economics;Other versions of this item:
- Passarella Marco, 2010. "The Paradox of Tranquility Revisited. A Lotka-Volterra Model of the Financial Instability," Rivista italiana degli economisti, Società editrice il Mulino, issue 1, pages 69-104.
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Passarella, Marco, 2012.
"A simplified stock-flow consistent dynamic model of the systemic financial fragility in the ‘New Capitalism’,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 83(3), pages 570-582.
- Marco, Passarella, 2011. "A simplified stock-flow consistent dynamic model of the systemic financial fragility in the 'New Capitalism'," MPRA Paper 28499, University Library of Munich, Germany.
- Marco, Passarella, 2011. "Systemic financial fragility and the monetary circuit: a stock-flow consistent approach," MPRA Paper 28498, University Library of Munich, Germany.
- Passarella, Marco, 2011. "The two-price model revisited. A Minskian-Kaleckian reading of the process of 'financialization'," MPRA Paper 32033, University Library of Munich, Germany.
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