Munich Personal RePEc Archive

Financial Capital Overaccumulation

Hsu, Sara (2012): Financial Capital Overaccumulation.

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Overaccumulation of financial capital at the expense of the real sector resulted in falling wages as well as in the most recent global financial crisis. This is a topic of increasing interest, as the idea that some developed economies have reached a stage of overfinancialization has gained some following. In this paper, we lay out a model of overaccumulation, which can be used as a constraint on any growth model.

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