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SINTEZA PRIVIND MODELAREA FRAGILITATII SISTEMULUI FINANCIAR

Aurel Iancu

Studii Economice from National Institute of Economic Research

Abstract: This survey analyzes two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking to believe that is self-regulating market, the units would have rational expectations, an the crisis would be a temporary phenomenon caused by exogenous shoks. Here are the main objectives and features characteristic of the three generations of models; 2. Models based on financial instability hypothesis, taking into account both the dynamics of financial market as well as the role of incertainty, interdependency and dynamic complexity. Here is shown Minsky’s concept of financial instability and then analized the content of some simplified models. * Articol realizat in cadrul Programului de cercetare al Academiei Romane „Probleme metodologice ale stiintelor economice”, 2010.

Keywords: Instability; model generations; balance sheet; hedge units; speculative units; Ponzi units; cyclical fluctuations; complexity (search for similar items in EconPapers)
JEL-codes: C61 C62 C83 D84 E12 E13 E32 F44 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2010-12
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Journal Article: Sinteză privind modelarea fragilităţii sistemului financiar (2010) Downloads
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