Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/57048 
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dc.contributor.authorBhaduri, Amiten
dc.date.accessioned2012-04-12T14:21:54Z-
dc.date.available2012-04-12T14:21:54Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/57048-
dc.description.abstractThe paper examines three aspects of a financial crisis of domestic origin. The first section studies the evolution of a debt-financed consumption boom supported by rising asset prices, leading to a credit crunch and fluctuations in the real economy, and, ultimately, to debt deflation. The next section extends the analysis to trace gradual evolution toward Ponzi finance and its consequences. The final section explains the link between the financial and the real sector of the economy, pointing to an inherent liquidity problem. The paper concludes with comments on the interactions between the three aspects.en
dc.language.isoengen
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen
dc.relation.ispartofseries|aWorking Paper |x593en
dc.subject.jelD84en
dc.subject.jelE12en
dc.subject.jelE21en
dc.subject.jelE32en
dc.subject.jelE41en
dc.subject.jelE44en
dc.subject.jelE51en
dc.subject.jelG12en
dc.subject.jelG18en
dc.subject.jelG24en
dc.subject.jelN22en
dc.subject.ddc330en
dc.subject.keywordcapital gainsen
dc.subject.keywordconsumer debten
dc.subject.keyworddebt-driven fluctuationsen
dc.subject.keywordeffective demanden
dc.subject.keywordfinancial fragilityen
dc.subject.keywordliquidity preferenceen
dc.subject.stwVermögenszuwachsen
dc.subject.stwPrivate Verschuldungen
dc.subject.stwBubblesen
dc.subject.stwGesamtwirtschaftliche Nachfrageen
dc.subject.stwFinanzmarktkriseen
dc.subject.stwLiquiditätspräferenzen
dc.subject.stwTheorieen
dc.titleA contribution to the theory of financial fragility and crisis-
dc.typeWorking Paperen
dc.identifier.ppn629686238en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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