Detail práce

Identifying the Conditions of Instability in Macromodels of Financial Cycles

Autor: Mgr. Aleš Zenáhlík
Rok: 2017 - letní
Vedoucí: PhDr. Jaromír Baxa Ph.D.
Konzultant:
Typ práce: Diplomová
Finance, finanční trhy a bankovnictví
Jazyk: Anglicky
Stránky: 81
Ocenění:
Odkaz: https://is.cuni.cz/webapps/zzp/detail/175567/
Abstrakt: The purpose of this thesis is to construct an endogenous macroeconomic model
explaining the cause of financial cycles and systemic instability based on the
financial instability hypothesis (FIH) published by Hyman Minsky (1982). FIH
maintains that capitalist financial systems have an inherent disposition to fi-
nancial instability because periods of economic prosperity encourage borrowers
and lenders to be increasingly reckless which in turn lead to the formation of
financial bubbles. The problem is approached by employing an adaptive expectations
model based on stylized facts from Kaldor’s and Kalecki’s models
with addition of behavioral equations implemented in an attempt to simulate
market expectations.

Partneři

ČSOB
Deloitte
McKinsey & Company

Sponzoři

CRIF