Skip to navigation – Site map

HomeNuméros16Renouveler la macroéconomie postk...A “Minsky crisis” in a Stock-Flow...

Renouveler la macroéconomie postkeynésienne ? Les modèles stock-flux cohérent et multi-agents

A “Minsky crisis” in a Stock-Flow Consistent model

Une crise minskyenne dans le modèle Lavoie-Godley
Una crisis « minskyana » en el modelo de Lavoie-Godley
Tarik Mouakil

Abstracts

This study uses the Stock-Flow Consistent modelling approach to assess the relevance of Minsky’s demonstration of his financial instability hypothesis. We show that this demonstration, based on the assumption of a pro-cyclical leverage ratio, is incompatible with the Kaleckian analysis of profits endorsed by Minsky. Therefore we suggest replacing the assumption of a pro-cyclical leverage ratio with one of a pro-cyclical short-term borrowing, which also appears in Minsky’s work.

Top of page

Editor’s notes

Cet article ne sera accessible qu’en PDF. Compte tenu de ses développements techniques actuels, revues.org n’est pas en mesure de permettre une version html intégrant des symboles et équations d’une qualité suffisante. Les services de revues.org travaillent à améliorer cela.

Attachments

Top of page

References

Electronic reference

Tarik Mouakil, A “Minsky crisis” in a Stock-Flow Consistent modelRevue de la régulation [Online], 16 | 2e semestre / Autumn 2014, Online since 19 December 2014, connection on 29 March 2024. URL: http://journals.openedition.org/regulation/10963; DOI: https://doi.org/10.4000/regulation.10963

Top of page

About the author

Tarik Mouakil

Research Associate at the Centre for Financial Analysis and Policy, Judge Business School, University of Cambridge (UK), tarik_mouakil@hotmail.fr

Top of page

Copyright

CC-BY-NC-ND-4.0

The text only may be used under licence CC BY-NC-ND 4.0. All other elements (illustrations, imported files) are “All rights reserved”, unless otherwise stated.

Top of page
Search OpenEdition Search

You will be redirected to OpenEdition Search