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Sinteza Privind Modelarea Fragilitatii Sistemului Financiar

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  • Iancu, Aurel

    (Academia Romana, Institutul National de Cercetari Economice)

Abstract

This survey analyzes two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking to believe that is self-regulating market, the units would have rational expectations, an the crisis would be a temporary phenomenon caused by exogenous shoks. Here are the main objectives and features characteristic of the three generations of models; 2. Models based on financial instability hypothesis, taking into account both the dynamics of financial market as well as the role of incertainty, interdependency and dynamic complexity. Here is shown Minsky’s concept of financial instability and then analized the content of some simplified models. * Articol realizat in cadrul Programului de cercetare al Academiei Romane „Probleme metodologice ale stiintelor economice”, 2010.

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Bibliographic Info

Paper provided by National Institute of Economic Research in its series Studii Economice with number 101213.

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Length: 30 pages
Date of creation: Dec 2010
Date of revision:
Handle: RePEc:ror:seince:101213

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Related research

Keywords: Instability; model generations; balance sheet; hedge units; speculative units; Ponzi units; cyclical fluctuations; complexity;

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