This paper aims to improve Minsky’s two-price theory by modeling an artificial, pure credit, closed capitalist economy in which production firms are split into a sector producing capital goods and a sector producing consumer goods. The result is a new model which allows us to retrieve some of the most disputed results of Minsky’s analysis of financial fragility and economic instability.
A Re-Formulation of Minsky's 'Two-Price Model'
Passarella M
2012-01-01
Abstract
This paper aims to improve Minsky’s two-price theory by modeling an artificial, pure credit, closed capitalist economy in which production firms are split into a sector producing capital goods and a sector producing consumer goods. The result is a new model which allows us to retrieve some of the most disputed results of Minsky’s analysis of financial fragility and economic instability.File in questo prodotto:
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