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Economic consequences of the financial crisis - A Keynesian point of view

Author

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  • Angel Asensio

    (CEPN - Centre d'Economie de l'Université Paris Nord (ancienne affiliation) - UP13 - Université Paris 13 - CNRS - Centre National de la Recherche Scientifique)

Abstract

The paper discusses the possible economic consequences of the financial crisis from a (Post)Keynesian point of view. It examines the forthcoming depressive mechanisms, including the orthodox reactions of monetary and fiscal authorities, in the vein of those inferred in Europe by the mandate of the European central bank and by the stability and growth pact. As these policies have been designed for an imaginary self regulated system, they are likely to make the situation worse. Measures adapted to the (Post)Keynesian representation of the real world are therefore also suggested.

Suggested Citation

  • Angel Asensio, 2008. "Economic consequences of the financial crisis - A Keynesian point of view," CEPN Working Papers halshs-00335554, HAL.
    • Handle: RePEc:hal:cepnwp:halshs-00335554
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00335554v2
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    File URL: https://shs.hal.science/halshs-00335554v2/document
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    Cited by:

    1. Khilji, Bashir Ahmad & Farrukh, Muhammad Umer & Iqbal, Mammona & Hameed, Shahzad, 2010. "The Impact of Recent Financial Recession on the Banking sector of Pakistan," MPRA Paper 30558, University Library of Munich, Germany, revised 05 Jan 2011.
    2. Costa Cabral, Nazare, 2010. "Breve guia temático e bibliográfico sobre o estudo da actual crise financeira e económica [Short thematic guide to the study of current financial and economic crisis]," MPRA Paper 20743, University Library of Munich, Germany.

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