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All figures (13)
Figure 3: A conservative system
Figure 4: The rate of change of real wages as a function of the employment rate
Figure 9: Apparent economic tranquility gives way to a deflationary collapse
Figure 10: Cyclical growth in the debt to output ratio, followed by exponential growth
Table 2: Flow rates for the entries in the Godley Table
Figure 1:The Great Moderation gives way to the Great Recession
Figure 7: A dissipative system with breakdown
Table 1: Basic Godley Table of monetary flows in a growing economy
Figure 11: Loans and deposits fall and unlent reserves rise as the crisis unfolds
Figure 6: Cyclical breakdown of growth in the basic Minsky model
Figure 2: Cyclical growth in the basic Goodwin model
Figure 5: The level of investment in GDP as a function of the rate of profit
Figure 8: Cycles in real output diminish, followed by a sudden change to declining output
Journal Article
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DOI
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A monetary Minsky model of the Great Moderation and the Great Recession
[...]
Steve Keen
1
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Institutions (1)
University of Western Sydney
1
01 Feb 2013
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Journal of Economic Behavior and Organization