Fluttuazioni endogene, deflazione da debiti e instabilità finanziaria

Piero Ferri ()
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Piero Ferri: Università degli Studi di Bergamo, Facoltà di Economia, Bergamo

Moneta e Credito, 2006, vol. 59, issue 234, 129-149

Abstract: This paper studies the relationships between endogenous fluctuations and financial crises with reference to some of the concepts, tools and methodologies that are based on the analysis of Minsky. In particular, the article uses a function of investment based on the concept of "cash flow" and connects it to a particular structure of the labor market can generate a changing distribution of income. These equations are enriched by the presence of expectations of various actors who seek to "learn" the dynamics of the system by referring to "rolling regressions". The simulations of the non-linear model are able to generate persistent fluctuations that are accompanied, depending on the assumptions made??, by phenomena inflation or deflation. In this context, financial instability and debt deflation are more the inability of the system to fluctuate given that the bursting of financial bubbles as in Minsky.

Keywords: fluttuazioni endogene; crisi finanziarie; Minsky; distribuzione del reddito (search for similar items in EconPapers)
JEL-codes: E22 E25 E27 E3 (search for similar items in EconPapers)
Date: 2006
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