SECTORAL BALANCE IN THE CONTEXT OF ECONOMIC DEVELOPMENTS IN THE EURO AREA

被引：0
|
作者：
Cas, Marcel [1 ]
机构：
[1] Ekon Univ Bratislave, Fak Medzinarodnych Vztahov, Bratislava 85235, Slovakia
来源：
INTERNATIONAL RELATIONS 2014: CONTEMPORARY ISSUES OF WORLD ECONOMICS AND POLITICS | 2014年
关键词：
Sectoral balances; Financial instability hypothesis; European debt crisis;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper concerns itself with the theory of sectoral balances. This theoretical framework was developed by Wynne Godley using principles of national accounting and an analysis of financial flows. This framework is currently developed further in the Levy institute under the name of modern monetary theory. In this paper we derive the validity of sectoral balances using a deductive ex-post analysis of financial flows. Consequently, the model is enhanced by the financial instability hypothesis of Hyman Minsky. Finally we apply the synthesis to the European debt crisis.
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页码：83 / 92
页数：10
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