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Schumpeter, Minsky and the financial instability hypothesis
Journal of Evolutionary Economics, 2014Hyman Minsky pioneered the idea of the financial instability hypothesis to explain how swings between robustness and fragility in financial markets generate business cycles in the economic system. Yet few economists have recognized that this elemental idea originates not only from the financial theory of investment and investment theory of business ...
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Hyman Minsky’s Financial Instability Hypothesis and Greece Debt Crisis
Voprosy Ekonomiki, 2015The paper analyzes Greece debt crisis by means of the Minsky’s financial instability hypothesis, which makes it possible to investigate the country’s endogenous transformation into the financially fragile position. Therefore, we can understand how the economy becomes vulnerable to crises.
S. Beshenov, I. Rozmainsky
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A sectoral analysis of the financial instability hypothesis
The Quarterly Review of Economics and Finance, 2013Abstract Hyman Minsky's Financial Instability Hypothesis (FIH) is applied to various North American Industrial Classification System (NAICS) industry groups, and it is found that some sectors develop much more closely in accordance with the FIH than others.
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Dynamics of learning and the financial instability hypothesis
Journal of Economics, 1992The financial instability hypothesis advanced by Minsky (1975, 1982, 1986) is not compatible with the rational expectations hypothesis in that firms persist in adopting liability structures which give rise to outcomes which in turn violate the assumptions on the basis of which those liability structures were chosen.
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Growth Cycles and the Financial Instability Hypothesis (FIH)
2010This Companion provides a timely and engaging treatment of Hyman Minsky’s approach to economics, which is enjoying a renewed appreciation because of its prescient analysis of the slow but sure transformation of the capitalist economy in the post-war period.
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Finance and Economic Breakdown: Modeling Minsky’s “Financial Instability Hypothesis”
Journal of Post Keynesian Economics, 1995H. M. Minsky's financial instability hypothesis interpretation of Keynes's General Theory is outlined. Two stylized fact extensions are made to Goodwin's (1972) limit cycle model to incorporate the fundamentals of Minsky's hypothesis. The introduction of a 'real' finance sector converts Goodwin's stable system into a chaotic one, with the transition ...
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Minsky, the Financial Instability Hypothesis, and Risk Management
2016At this point we turn our attention to risk management in the financial sector. The next several chapters apply the concepts developed to analyze the psychological dimension of risk management at major financial institutions that were at the heart of the global financial crisis.
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International Critical Thought, 2015
From the standpoint of monopoly capital theory, this paper argues that oligopolistic capitalism is internally unstable. The instability manifests from the historical evolution of finance within oligopolistic capitalism. The historical rise of oligopolistic capitalism has given rise to price fluctuations; (non-financial) firms have increasingly relied ...
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From the standpoint of monopoly capital theory, this paper argues that oligopolistic capitalism is internally unstable. The instability manifests from the historical evolution of finance within oligopolistic capitalism. The historical rise of oligopolistic capitalism has given rise to price fluctuations; (non-financial) firms have increasingly relied ...
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Minsky Financial Instability Hypothesis and the Case of Turkey
2016The global crisis which has arisen from American housing market in 2007 and has affected the whole world and Turkey has motivated to re-examine current economic policies and its implications. Hyman Minsky explained the concept of instability that resulted from the deterioration of debt-income ratio as the Financial Instability Hypothesis.
KORKMAZ, Özge, YAMAK, Rahmi
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