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Financial crisis: old and new approaches

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  • Jouliana Jordan Nohara

Abstract

This essay aims at outline the theoretical discussions about the financial crises.Three approaches explain the event: the monetarist, the asymmetric information approachand the financial instability hypothesis. The first one proved inadequate when confrontedwith experience. The other two have in common the attempt to include the financial marketwith all its institutions in the economic analysis. Nevertheless, they differ in the conceptionabout the operating mode of the economy. JEL Classification: E32; G28.

Suggested Citation

  • Jouliana Jordan Nohara, 1997. "Financial crisis: old and new approaches," Brazilian Journal of Political Economy, Center of Political Economy, vol. 17(1), pages 20-42.
    • Handle: RePEc:ekm:repojs:v:17:y:1997:i:1:p:20-42:id:1156
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1156/1141
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    More about this item

    Keywords

    Financial crisis; history of economic thought;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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