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| Author: | Bezemer, D.J. |
| Title: | Understanding financial crisis through accounting models |
| Journal: | Accounting, Organizations and Society
2010 : OCT, VOL. 35:7, p. 676-688 |
| Index terms: | financial crises recession macroeconomics accounting models |
| Language: | eng |
| Abstract: | This paper provides evidence of accounting or flow-of-funds macroeconomic models in helping to foresee the credit crisis and economic recession. Yet, equilibrium models ubiquitous in mainstream policy and research did not. This study tracks the intellectual roots of the accounting approach as an alternative to neo-classical economics etc. Contemporary case studies of both types of models are included. It is considered why the accounting approach has stayed outside of mainstream economics etc. |
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