The Instability of Market Economies
Franck Portier ()
Revue de l'OFCE, 2018, vol. N° 157, issue 3, 225-233
The modern approach to macroeconomic fluctuations considers that the economy is fundamentally stable, and fluctuates around a stationary state because of exogenous shocks. This article presents some thoughts and avenues of research for a different approach in which the decentralised market economy may prove to be fundamentally unstable and thus fluctuates both endogenously and exogenously. This has implications for the conduct of macroeconomic stabilisation policies.
Keywords: cyclical fluctuations; endogenous cycle; non-linearity (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cai:reofsp:reof_157_0225
Access Statistics for this article
More articles in Revue de l'OFCE from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().