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The Paradox of Tranquility Revisited. A Lotka-Volterra Model of the Financial Instability

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  • Marco PASSARELLA

    ()
    (Universita' di Bergamo)

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".

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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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Handle: RePEc:rie:review:v:15:y:2010:i:1:n:4

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Related research

Keywords: Financial Instability Hypothesis; Heterodox Approaches; Post-Keynesian Economics;

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Cited by:
  1. Marco, Passarella, 2011. "Systemic financial fragility and the monetary circuit: a stock-flow consistent approach," MPRA Paper 28498, University Library of Munich, Germany.
  2. 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.
  3. 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, Elsevier, vol. 83(3), pages 570-582.
  4. Passarella, Marco, 2011. "From the village fair to Wall Street. The Italian reception of Minsky’s economic thought," MPRA Paper 49593, University Library of Munich, Germany.

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