Acessibilidade / Reportar erro

Uma análise sistêmica dos determinantes da fragilidade financeira Minskyana

The goal of the following paper is to identify the foundations, circumscribed to the productive activities, of the inner financing capacity of a capitalist firm. By adopting Minsky's conception, a computational microeconomic model is proposed. The emulation of both the real and the financial side of an economy, from only one behavioral algorithm, i.e., only one type of agent, firms, is the main characteristic of the model.The results are: (i) is possible, incurring in a statistical error not bigger than 5%, to classify a firm as hedge or not-hedge, from the knowledge of only the production realization rate, the ratio between unitary cost and price and the sensibility of investment to the expected profit and; (ii) such possibility is kept dynamically.

Financial Fragility; Business Cycles; Economic Units' Behavior; Complexity


Departamento de Economia; Faculdade de Economia, Administração, Contabilidade e Atuária da Universidade de São Paulo (FEA-USP) Av. Prof. Luciano Gualberto, 908 - FEA 01 - Cid. Universitária, CEP: 05508-010 - São Paulo/SP - Brasil, Tel.: (55 11) 3091-5803/5947 - São Paulo - SP - Brazil
E-mail: estudoseconomicos@usp.br