Un modelo postkeynesiano simple de inestabilidad financiera y ciclos
Keywords:
business cycles, financial instability, post-Keynesian modelsAbstract
This paper analyzes the interaction between the real sector of the economy (represented by the rate of growth) and the financial sector (represented by the rate of interest). We apply the preypredator model proposed in 1926 by the natural scientists Lotka andVolterra. This model was applied to Economics for the first time by Goodwin in 1967. Contrary to conventional models of economic cycles, whose starting point usually is an exogenous shock on the real sector, our attention will focus on the causes of financial instability. We shall also analyze the transmission mechanisms towards the real sector and the circumstances that bound cycles between certain limits, as we can observe in real life.
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