The Paradox of Tranquility Revisited. A Lotka-Volterra Model of the Financial Instability
The aim of this paper is to describe by means of a simple Lotka-Volterra model the financial vulnerability of corporate sector. This should allow us to soften Lavoie's criticism of Minsky's «Financial Instability Hypothesis» which is based on the so-called «paradox of debt».
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