The latest quarterly review published in December by The Bank for International Settlements (BIS) delivers a warning that the finance industry is laying the foundations for the next big crash. It contains a report that highlights the role of non-bank…
Category: Financial instability
Policymakers show interest in Steve Keen’s financial instability model
Policymakers, disillusioned with conventional general equilibrium models that failed to forecast the 2007/08 financial crisis, are showing interest in a new financial instability model developed by Australian economist Steve Keen. Keen told the annual Association for Heterodox Economics conference in…