The Mechanics of Financial Crises—Part One

Luis Angeles ()
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Luis Angeles: University of Glasgow

Chapter Chapter 11 in Money Matters, 2022, pp 103-110 from Springer

Abstract: Abstract Conventional wisdom has it that financial crises are a very complex phenomenon. I beg to differ. While there may be substantial complexity in the details setting one crisis aside from another, I believe the same simple mechanism lies at the core of all of them.

Keywords: Aggregate expenditure; Spare capacity; Full capacity; Interest payments; Loan repayments (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-95516-8_11

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DOI: 10.1007/978-3-030-95516-8_11

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