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The Instability Of The Modern Economic System

Author

Listed:
  • Alina, POP

    (The Bucharest University of Economic Studies)

Abstract

The economic developments in the first part of the twentieth century, characterized by low inflation and accelerated economic growth, have led a lot of the economists to believe that the problems regarding the economic cycles have been resolved. This new period of relative calm was called "The Great Moderation". However, the economic crisis of 2008 came to challenge these new economic theories reopening the debates on the causes that lead to the emergence of a crisis and the efficiency of the measures taken so far. The paper aims to identify and analyze the factors leading to instability in an economy, trying to find out if economic instability is a normal phenomenon faced by an economy or if it is just an anomaly.

Suggested Citation

  • Alina, POP, 2016. "The Instability Of The Modern Economic System," Management Strategies Journal, Constantin Brancoveanu University, vol. 31(1), pages 77-82.
    • Handle: RePEc:brc:journl:v:31:y:2016:i:1:p:77-82
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    References listed on IDEAS

    as
    1. Eric Rosengren, 2011. "Defining financial stability, and some policy implications of applying the definition," Speech 46, Federal Reserve Bank of Boston.
    2. Laura González Cabanillas & Eric Ruscher, 2008. "The Great Moderation in the euro area: What role have macroeconomic policies played ?," European Economy - Economic Papers 2008 - 2015 331, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Robert Z. Aliber & Charles P. Kindleberger & Robert N. McCauley, 2023. "Manias, Panics, and Crashes," Springer Books, Springer, edition 8, number 978-3-031-16008-0, March.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises

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