Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/57048
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dc.contributor.authorBhaduri, Amiten_US
dc.date.accessioned2012-04-12T14:21:54Z-
dc.date.available2012-04-12T14:21:54Z-
dc.date.issued2010en_US
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_US
dc.language.isoengen_US
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen_US
dc.relation.ispartofseries|aWorking paper, Levy Economics Institute |x593en_US
dc.subject.jelD84en_US
dc.subject.jelE12en_US
dc.subject.jelE21en_US
dc.subject.jelE32en_US
dc.subject.jelE41en_US
dc.subject.jelE44en_US
dc.subject.jelE51en_US
dc.subject.jelG12en_US
dc.subject.jelG18en_US
dc.subject.jelG24en_US
dc.subject.jelN22en_US
dc.subject.ddc330en_US
dc.subject.keywordcapital gainsen_US
dc.subject.keywordconsumer debten_US
dc.subject.keyworddebt-driven fluctuationsen_US
dc.subject.keywordeffective demanden_US
dc.subject.keywordfinancial fragilityen_US
dc.subject.keywordliquidity preferenceen_US
dc.subject.stwVermögenszuwachsen_US
dc.subject.stwPrivate Verschuldungen_US
dc.subject.stwBubblesen_US
dc.subject.stwGesamtwirtschaftliche Nachfrageen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwLiquiditätspräferenzen_US
dc.subject.stwTheorieen_US
dc.titleA contribution to the theory of financial fragility and crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn629686238en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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