Theoretical Link between the Economic and Financial Crises in Evolution

Vessela Todorova

Economic Thought journal, 2011, issue 4, 55-74

Abstract: There are arguments, that the theory of financial instability and financial crises has failed to explain why the price and quantity assessment are the most important tools in generating a permanent surplus in the demand for loans and the changes in the level of extended loans; how much the macroeconomic volatility is identified with the financial fluctuations; what is the impact of the monetary policy and whether it is possible to be used for stabilizing the financial systems and the aggregate production; whether the International Monetary Fund could act as a global lender of last resort in order to stabilize the world finances.

JEL-codes: B22 E65 (search for similar items in EconPapers)
Date: 2011
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