Confidence and financial crisis in a post-keynesian stock-flow consistent model

Edwin Le Heron

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Abstract: The paper aims at showing that one of the main channels by which the US 2007 financial crisis became a real and global economic crisis is the 'confidence channel', i.e. that the financial crisis affected firms, banks and households? expectations and confidence, thus leading to what they were fearing. And I propose to model expectations and the state of confidence of private agents to use the indexes calculated by national statistical services from monthly polls.

Keywords: confidence; financial crisis; stock-flow-consistent modelling; crise financière; confiance; politique financière (search for similar items in EconPapers)
Date: 2011-09
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00646622v1
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Citations: View citations in EconPapers (16)

Published in European Journal of Economics and Economic Policies: Intervention, 2011, 8 (2), pp.361-388. ⟨10.4337/ejeep.2011.02.09⟩

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Journal Article: Confidence and financial crisis in a post-Keynesian stock flow consistent model (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00646622

DOI: 10.4337/ejeep.2011.02.09

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