June 2009 Paper: “No One Saw This Coming” – by Dirk Bezemer
This paper was mentioned in Steve Keen’s new and expanded edition of Debunking Economics, which comes out in October in the U.S. I was fortunate enough to receive an advanced proof of the book, which is one that I think is going to be very important for both investors and non-investors alike. I’ll have more on the book as I get a little further along.
This paper presents evidence that accounting (or flow-of-fund) macroeconomic models helped anticipate the credit crisis and economic recession. Equilibrium models ubiquitous in mainstream policy and research did not. This study identifies core differences, traces their intellectual pedigrees, and includes case studies of both types of models. It so provides constructive recommendations on revising methods of financial stability assessment. Overall, the paper is a plea for research into the link between accounting concepts and practices and macro economic outcomes.
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Related book: Debunking Economics - Revised and Expanded Edition: The Naked Emperor Dethroned?
Related link: Steve Keen’s Debtwatch
- Steve Keen On Capital Account
Link ................... Related book: Debunking Economics - Revised and Expanded Edition: The Naked Emperor Dethroned? Related previous post: Steve Keen: Behavioral Finance Lectures ...
- Google Talk: Steve Keen
Link ................... Related book: Debunking Economics - Revised and Expanded Edition: The Naked Emperor Dethroned? Related previous posts: Steve Keen: Behavioral Finance Lectures Steve Keen Interview from VAL2011 ...
- Steve Keen Interview From Val2011
From November of last year. Link Link ………………..Related book: Debunking Economics - Revised and Expanded Edition: The Naked Emperor Dethroned?Related previous post: Steve Keen: Behavioral Finance Lectures ...
- The Future Of Economics - By Steve Keen
I was approached by Bloomberg to write an 800-word feature on “The Future of Economics” for the World Economic Forum, which starts today in Davos. I haven’t heard back as to whether they actually ran it in their newsletter, but hopefully the Davos...
- Steve Keen: Behavioral Finance Lectures
UPDATE: For his 2012 Lectures, see HERE. ----- Steve Keen is lecturing on Behavioral Finance at the University of Western Sydney this semester. He’s recording all of his lectures and posting them online. The second, expanded edition of his book...