| Description |
1 online resource (458 pages) |
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text file |
| Contents |
Cover; Financial Assets, Debt and Liquidity Crises; Title; Copyright; Contents; Figures; Tables; Notation; Preface; 1 Financial crises and the macroeconomy; 1.1 Open economies, foreign debt and currency crises; 1.2 Household borrowing, debt default and banking crises; 1.3 Overleveraging, debt and debt deflation; 1.4 Plan of the book; Part I The non-linear dynamics of credit and debt default; 2 Currency crisis, credit crunches and large output loss; 2.1 The emergence of currency crises; 2.2 Some stylised facts; 2.3 The Krugman model: an MFT representation. |
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2.4 Sectoral budget equations and national accounts2.5 Flexible exchange rates: output and exchange rate dynamics; 2.6 Fixed exchange rates and the emergence of currency crises; 2.7 International capital flows: adding capital account dynamics; 2.8 Conclusions; 3 Mortgage loans, debt default and the emergence of banking crises; 3.1 Mortgage and banking crises; 3.2 A Keynes-Goodwin model with mortgage loans and debt default; 3.3 Excessive overconsumption and an attracting steady state; 3.4 Weakly excessive overconsumption and a repelling steady state. |
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3.5 Credit rationing, reduced consumption and the emergence of mortgage crises3.6 Monetary policy in a mortgage crisis; 3.7 Adding commercial banking; 3.8 Conclusions and outlook; 3.9 Appendix: some simulation studies of the baseline model; 4 Debt deflation and the descent into economic depression; 4.1 The debt deflation debate; 4.2 3D debt accumulation; 4.3 4D debt deflation; 4.4 KMG real business fluctuations: the point of departure; 4.4.1 The basic framework; 4.4.2 The 3D Rose type wage-price dynamics; 4.4.3 The 2D Metzlerian quantity dynamics and capital stock growth. |
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4.4.4 Putting things together: the KMG growth dynamics4.5 Feedback-motivated stability analysis; 4.6 Debt deflation in the KMG framework; 4.6.1 Integrating debt financing of firms; 4.6.2 Enterprise debt dynamics in the KMG framework; 4.6.3 Analysis of the model; 4.7 Conclusions and outlook; Part II Theoretical foundations for structural macroeconometric model building; 5 Keynesian macroeconometric model building: a point of departure; 5.1 Introduction; 5.2 The real and the financial part of the economy; 5.2.1 The structure of the real part; 5.2.2 The structure of the financial part. |
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5.3 The structure of the economy from the viewpoint of national accounting5.3.1 The four sectors of the economy; 5.3.2 Gross domestic product, savings, investment and further aggregates; 5.4 The model; 5.4.1 Preliminaries; 5.4.2 Households; 5.4.3 Firms; 5.4.4 The government; 5.4.5 Quantity and price adjustment processes; 5.4.6 The dynamics of asset market prices and expectations; 5.4.7 External accounts and foreign country data; 5.5 The next steps; 6 Intensive form and steady state calculations; 6.1 Introduction; 6.2 The real and the financial structure on the intensive form level. |
| Note |
6.2.1 The real part of the economy. |
| Summary |
Shows how the Keynesian approach to business cycles can be used to explain and understand the current financial crisis. |
| Bibliography |
Includes bibliographical references and index. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Macroeconomics.
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Macroeconomics. |
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Business cycles.
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Business cycles. |
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Financial crises.
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Financial crises. |
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Keynesian economics.
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Keynesian economics. |
| Genre/Form |
Electronic books.
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| Added Author |
Chiarella, Carl.
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Flaschel, Peter.
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Semmler, Willi.
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| Other Form: |
Print version: Charpe, Matthieu. Financial Assets, Debt and Liquidity Crises : A Keynesian Approach. Cambridge : Cambridge University Press, ©2011 9781107004931 |
| ISBN |
9781139101004 |
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1139101005 |
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9781139101660 (electronic book) |
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1139101668 (electronic book) |
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9780511792540 |
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0511792549 |
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9781139103466 |
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1139103466 |
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9781139099660 |
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1139099663 |
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9786613341884 |
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6613341886 |
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9781107004931 |
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1107004934 |
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