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La hipótesis de inestabilidad financiera de Minsky en una economía abierta

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  • Jimmy Melo

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    Abstract

    Este artículo busca ampliar el análisis de Minsky para el caso de una economía abierta y muestracomo los flujos de capital amplifican los desequilibrios acumulados a lo largo del boom deinversión, lo cual hace que la economía sea más frágil y propensa a crisis. Se establece la dificultadde guiar la política macroeconómica usando como únicos indicadores el nivel de reservasinternacionales o la relación reservas internacionales a deuda. Se explora el uso de los controlesde capital para atenuar el crecimiento de la cartera especulativa en la fase ascendente del ciclo. Seconcluye que la dinámica del boom de inversiones, en el modelo de la hipótesis de inestabilidadpara una economía abierta, se ve atenuada y el grado de fragilidad de la economía se mitiga con eluso de controles de capital.

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    File URL: http://www.revistas.unal.edu.co/index.php/ede/article/viewFile/35871/36751
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    Bibliographic Info

    Paper provided by UNIVERSIDAD NACIONAL DE COLOMBIA SEDE MEDELLIN in its series ENSAYOS DE ECONOMÍA with number 010333.

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    Length: 24
    Date of creation: 16 Dec 2012
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    Handle: RePEc:col:000418:010333

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    Related research

    Keywords: Minsky; Inestabilidad Financiera; economía abierta; controles de capital;

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