The Banking Crisis: A Rational Interpretation
Modern macroeconomic models have been widely criticised as relying too much on rationality and market efficiency. However, basically their predictions about this crisis are being borne out by events. 'Crashes' are an integral part of an 'efficient market' capitalism and are brought on by swings in the news about productivity growth,this time nearly two decades of strong computer-based productivity growth were brought to a crashing halt by raw material shortages. This presages a slow recovery until innovation in material use frees growth up again as it did in the 1990s after the shortages of the 1970s.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 8 (2010)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1478-9299|
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1478-9299|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Li Dai & Patrick Minford & Peng Zhou, 2015.
"A DSGE model of China,"
Taylor & Francis Journals, vol. 47(59), pages 6438-6460, December.
- Dai, Li & Minford, Patrick & Zhou, Peng, 2014. "A DSGE Model of China," CEPR Discussion Papers 10028, C.E.P.R. Discussion Papers.
- Dai, Li & Minford, Patrick & Zhou, Peng, 2014. "A DSGE Model of China," Cardiff Economics Working Papers E2014/4, Cardiff University, Cardiff Business School, Economics Section.
- Dai, Li & Minford, Patrick & Zhou, Peng, 2014. "A DSGE Model of China," CEPR Discussion Papers 10238, C.E.P.R. Discussion Papers.
- Tobias Adrian & Hyun Song Shin, 2008. "Liquidity and financial cycles," BIS Working Papers 256, Bank for International Settlements. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:bla:pstrev:v:8:y:2010:i:1:p:40-54. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.