2020
DOI: 10.1093/oxrep/graa042 View full text |Buy / Rent full text
|
|

Abstract: The 2008 Global Financial Crisis, and the myriad other crises confronting economies around the world, exposed the inadequacies of the Dynamic Stochastic General Equilibrium models. These models not only hadn’t predicted the crisis, its occurrence was completely outside of their framework. The framework assumes there are no macroeconomic inconsistencies—all plans are realized, all budget constraints honoured. But after each instance in which that assumption is proved wrong, say in a crisis, the DSGE models assu… Show more

Help me understand this page

Search citation statements

Order By: Relevance
0
0
0
0
0
0
1
0

Publication Types

Select...

Relationship

0
0

Authors

Journals