Sinteza Privind Modelarea Fragilitatii Sistemului Financiar
AbstractThis 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 InfoPaper provided by National Institute of Economic Research in its series Studii Economice with number 101213.
Length: 30 pages
Date of creation: Dec 2010
Date of revision:
Instability; model generations; balance sheet; hedge units; speculative units; Ponzi units; cyclical fluctuations; complexity;
Other versions of this item:
- Iancu Aurel, 2010. "Sinteză privind modelarea fragilităţii sistemului financiar," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 03, September.
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-12-23 (All new papers)
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