Confidence and financial crisis in a post-Keynesian stock flow consistent model
Year: 2011
Type: article
Abstract: The paper aims at showing that one of the main channels by which the US 2007 financial crisis became a real and global economic crisis is the ›confidence channel‹, i.e. that the financial crisis affected firms, banks and households' expectations and confidence, thus leading to what they were fearing. And I propose to model expectations and the state of confidence of private agents to use the indexes calculated by national statistical services from monthly polls.
Author: Edwin Le Heron
Institution: Centre Émile Durkheim
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W2003032002