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The Paradox of Tranquility Revisited. A Lotka-Volterra Model of the Financial Instability

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  • Marco Passarella

Abstract

The aim of this paper is to describe by means of a simple Lotka-Volterra model the financial vulnerability of corporate sector. This should allow us to soften Lavoie's criticism of Minsky's «Financial Instability Hypothesis» which is based on the so-called «paradox of debt».

Suggested Citation

  • Marco Passarella, 2010. "The Paradox of Tranquility Revisited. A Lotka-Volterra Model of the Financial Instability," Rivista italiana degli economisti, Società editrice il Mulino, issue 1, pages 69-104.
    • Handle: RePEc:mul:jqat1f:doi:10.1427/31841:y:2010:i:1:p:69-104
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    Cited by:

    1. Passarella, Marco, 2012. "A simplified stock-flow consistent dynamic model of the systemic financial fragility in the ‘New Capitalism’," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 570-582.
    2. Passarella, Marco, 2011. "From the village fair to Wall Street. The Italian reception of Minsky’s economic thought," MPRA Paper 49593, University Library of Munich, Germany.
    3. Marco, Passarella, 2011. "Systemic financial fragility and the monetary circuit: a stock-flow consistent approach," MPRA Paper 28498, University Library of Munich, Germany.
    4. Passarella, Marco, 2011. "The two-price model revisited. A Minskian-Kaleckian reading of the process of 'financialization'," MPRA Paper 32033, University Library of Munich, Germany.

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