Confidence and financial crisis in a post-Keynesian stock flow consistent model
The paper aims at showing that one of the main channels by which the US 2007 financial crisis became a real and global economic crisis is the 'confidence channel', i.e. that the financial crisis affected firms, banks and householdsâ€™ expectations and confidence, thus leading to what they were fearing. And I propose to model expectations and the state of confidence of private agents to use the indexes calculated by national statistical services from monthly polls.
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Volume (Year): 8 (2011)
Issue (Month): 2 ()
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