Leijonhufvud, Axel - In: The European Journal of the History of Economic Thought 21 (2014) 5, pp. 760-774
The macroeconomic instability revealed in the recent deep recession steams from the condition of balance sheets. Generally high leverage and strained maturity mismatches build up slowly but generate a financial structure so brittle that the impulse that eventually sends it crashing is hard to...
