Financial Instability Mini-Documentary
Level: beginnerJoseph Stiglitz, Gillian Tett, David Tuckett, Stephen Kinsella, John Kay, David Weinstein, Steve Keen and Dirk Bezemer | INET, 2012
Renowned scholars elaborate a critique on neoclassical economics and how it was unable to predict and even favoured the financial crisis. They refer to DSGE models, equilibrium theory and rational agents – a brief insight in the critique on neoclassic economics.
DSGE (dynamic stochastic general equilibrium) model equilibrium financial crisis financial stability knowledge models rationality