1. OAR@UM
  2. External Research Collection
  3. Social Sciences
  4. Finance
  5. International Journal of Finance, Insurance and Risk Management (JFIRM)
  6. 2015
  7. Volume 5, Issue 3, 2015
Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/71859
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dc.contributor.authorSchädler, Tobias-
dc.contributor.authorGrabinski, Michael-
dc.date.accessioned2021-03-23T06:42:10Z-
dc.date.available2021-03-23T06:42:10Z-
dc.date.issued2015-
dc.identifier.citationSchädler, T., & Grabinski, M. (2015). Income from speculative financial transactions will always lead to macro-economic instability. International Journal of Finance, Insurance and Risk Management, 5(3), 922-932.en_GB
dc.identifier.urihttps://www.um.edu.mt/library/oar/handle/123456789/71859-
dc.description.abstractStarting with a macro-economic model based upon the NAIRU (the nonaccelerating inflation rate of unemployment), we show that, in a world with no (speculative) financial transactions, the macro- economy shows a stable equilibrium state. Including income from (speculative) financial transactions will lead to instability if the amount is sufficiently large. Considering the present amount of financial transactions, stability is impossible. Therefore, further financial crashes are not only likely but inevitable.en_GB
dc.language.isoenen_GB
dc.publisherISMASYSTEMS Scientific Researchen_GB
dc.rightsinfo:eu-repo/semantics/openAccessen_GB
dc.subjectDynamicsen_GB
dc.subjectFinanceen_GB
dc.subjectTransaction systems (Computer systems)en_GB
dc.subjectValues -- Economic aspectsen_GB
dc.titleIncome from speculative financial transactions will always lead to macro-economic instabilityen_GB
dc.typearticleen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holderen_GB
dc.description.reviewedpeer-revieweden_GB
dc.identifier.doi10.35808/ijfirm/128-
dc.publication.titleInternational Journal of Finance, Insurance and Risk Managementen_GB
Appears in Collections:Volume 5, Issue 3, 2015

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