Modeling financial crises: a schematic approach
John Maynard Keynes argued that crises were systemic and that, unless serious reforms were implemented, they would tend to grow in frequency and severity. The paper sets out to build a Keynes-style model of crises that captures both the unique characteristics of each type and their common roots. A schematic method is employed that traces the processes in time and shows how events become interrelated and mutually causal. This permits us, as much as possible, to see everything at onceâa necessity when the buildup to a crisis may manifest itself in so many places.
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Volume (Year): 33 (2010)
Issue (Month): 1 (October)
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- Stephen P. Dunn, 2001. "Bounded Rationality Is Not Fundamental Uncertainty: A Post Keynesian Perspective," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 23(4), pages 567-587, July.
- Taylor, Lance, 1998. "Capital Market Crises: Liberalisation, Fixed Exchange Rates and Market-Driven Destabilisation," Cambridge Journal of Economics, Oxford University Press, vol. 22(6), pages 663-76, November.
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- Gary A. Dymski, 1988. "A Keynesian Theory of Bank Behavior," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 10(4), pages 499-526, July.
- John Harvey, 2002. "Keynes' Chapter Twenty-Two: A System Dynamics Model," Working Papers 200201, Texas Christian University, Department of Economics.
- Ilene Grabel, 2003. "Averting crisis? Assessing measures to manage financial integration in emerging economies," Cambridge Journal of Economics, Oxford University Press, vol. 27(3), pages 317-336, May.
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