Modeling Financial Crises: A Schematic Approach

John Harvey

No 201001, Working Papers from Texas Christian University, Department of Economics

Abstract: John Maynard Keynes’ argued that crises were systemic and that, unless serious reforms were implemented, they would tend to grow in frequency and severity. The paper sets out to build a Keynes-style model of crises that captures both the unique characteristics of each type and their common roots. A schematic method is employed that traces the processes in time and shows how events become interrelated and mutually causal. This permits us, as much as possible, to see everything at once, a necessity when the build up to a crisis may manifest itself in so many places

Keywords: financial crisis; Keynes; Minsky (search for similar items in EconPapers)
JEL-codes: E12 E32 G01 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2010-01
New Economics Papers: this item is included in nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Published in Journal of Post Keynesian Econoimics, Fall 2010, pp.61-81

Downloads: (external link)
http://www.econ.tcu.edu/RePEc/tcu/wpaper/wp10-01.pdf First version, 2010 (application/pdf)

Related works:
Journal Article: Modeling financial crises: a schematic approach (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:tcu:wpaper:201001

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