Skip to content
Cart

Your Cart

×

You have 0 items in your cart.

Register Sign in Wishlist

Financial Assets, Debt and Liquidity Crises
A Keynesian Approach

£93.00

  • Date Published: July 2011
  • availability: In stock
  • format: Hardback
  • isbn: 9781107004931

£ 93.00
Hardback

Add to cart Add to wishlist

Other available formats:
Paperback, eBook


Looking for an inspection copy?

This title is not currently available on inspection

Description
Product filter button
Description
Contents
Resources
Courses
About the Authors
  • The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cycles are driven by specific sectors of the economy. In the financial meltdown of the years 2007–9 it was the credit sector and the real-estate sector that were the main driving forces. This book takes on the challenge of interpreting and modelling this meltdown. In doing so it revives the traditional Keynesian approach to the financial-real economy interaction and the business cycle, extending it in several important ways. In particular, it adopts the Keynesian view of a hierarchy of markets and introduces a detailed financial sector into the traditional Keynesian framework. The approach of the book goes beyond the currently dominant paradigm based on the representative agent, market clearing and rational economic agents. Instead it proposes an economy populated with heterogeneous, rationally bounded agents attempting to cope with disequilibria in various markets.

    • Provides an integrated view of the underlying mechanism of financial crises
    • Extends the Keynesian tradition to include a detailed financial sector
    • Integrates distributive cycle with the dynamics of effective demand and the dynamics of financial markets
    Read more

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: July 2011
    • format: Hardback
    • isbn: 9781107004931
    • length: 456 pages
    • dimensions: 253 x 180 x 25 mm
    • weight: 1.03kg
    • contains: 94 b/w illus. 46 tables
    • availability: In stock
  • Table of Contents

    List of figures
    List of tables
    Notation
    Preface
    1. Financial crises and the macroeconomy
    Part I. The Nonlinear Dynamics of Credit and Debt Default:
    2. Currency crises, credit crunches and large output loss
    3. Mortgage loans, debt default and the emergence of banking crises
    4. Debt deflation and the descent into economic depression
    Part II. Theoretical Foundations for Structural Macroeconometric Model Building:
    5. Keynesian macroeconometric model building: a point of departure
    6. Intensive form and steady state calculations
    7. Partial feedback structures and stability issues
    Part III. Debt Crises: Firms, Banks and the Housing Markets:
    8. Debt deflation: from low- to high-order macrosystems
    9. Debt default, bankruptcy of firms, and banks' performances
    10. Japan's institutional configuration and its financial crisis
    11. Housing investment cycles, workers' debt and debt default
    Bibliography.

  • Authors

    Matthieu Charpe, International Labour Organisation (ILO), Geneva
    Matthieu Charpe works as an economist for the International Institute for Labour Studies at the International Labour Organization in Geneva.

    Carl Chiarella, University of Technology, Sydney
    Carl Chiarella is Emeritus Professor and Professor of Quantitative Finance in the School of Finance and Economics at the University of Technology, Sydney.

    Peter Flaschel, Universit├Ąt Bielefeld, Germany
    Peter Flaschel is Emeritus Professor in the Faculty of Economics at Bielefeld University.

    Willi Semmler, New School University, New York
    Willi Semmler is Professor of Economics at The New School for Social Research, New York.

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

Sorry, this resource is locked

Please register or sign in to request access. If you are having problems accessing these resources please email lecturers@cambridge.org

Register Sign in
Please note that this file is password protected. You will be asked to input your password on the next screen.

» Proceed

You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Continue ×

Find content that relates to you

This site uses cookies to improve your experience. Read more Close

Are you sure you want to delete your account?

This cannot be undone.

Cancel

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×