Testing fundamentalist–momentum trader financial cycles: An empirical analysis via the Kalman filter
Metroeconomica, Volume 72, Issue 4, Page 758-797, November 2021., 2021 Abstract This paper proposes an empirical test for Minskyan financial cycles in asset prices, driven by the interaction of fundamentalist and momentum traders. Both agents’ beliefs about the future are unobserved and can be modelled in a state space model. We use the Kalman filter to identify the two behavioral rules and evaluate whether the conditions
Filippo Gusella, Engelbert Stockhammer
wiley +1 more source
The Financial Instability Hypothesis and the Case of Private Non-Financial Firms in South Korea
Zhurnal Economicheskoj Teorii, 2021 The paper aims to test the Financial Instability Hypothesis (FIH) proposed by Hyman Minsky by looking at the case of private non-financial firms in South Korea.
I. Rozmainsky, M.S. Selitsky
semanticscholar +1 more source
Empirical Analysis of the Financial Fragility of the Public Sector in South Korea
AlterEconomics, 2022 The paper contains empirical analysis of the financial fragility of the public sector in South Korea. The study’s conceptual framework relies on the financial instability hypothesis developed by American econo¬mist Hyman Minsky.
Anzhelika S. BOBRYSHOVA +1 more
doaj +1 more source
Statistical Analysis of Minsky’s Financial Instability Hypothesis for the 1945–2023 Era
Journal of Risk and Financial ManagementFollowing the 2008 financial crisis, Hyman Minsky’s Financial Instability Hypothesis (FIH) emerged as a prominent financial theory to explain the occurrence of business cycles in the U.S. economy.
Linh N. Phan +2 more
semanticscholar +1 more source
Control of finance as a prerequisite for successful monetary policy: A reinterpretation of Henry Simons's "Rules versus Authorities in Monetary Policy" [PDF]
, 2012 Henry Simons's 1936 article 'Rules versus Authorities in Monetary Policy' is a classical reference in the literature on central bank independence and rule-based policy.
Moe, Thorvald Grung
core +2 more sources
The US credit crunch of 2007: A Minsky moment [PDF]
, 2007 It is now clear that most economists underestimated the widening economic impact of the credit crunch that has shaken American financial markets since at least mid-July.
Whalen, Charles J.
core
A Theory of Minsky Super-Cycles and Financial Crises [PDF]
, 2009 This paper argues that Hyman Minsky's financial instability hypothesis weaves together a medium term Keynesian approach to the business cycles in the spirit of Samuelson (1936) and Hicks (1950) with long cycle thinking of economists such as Schumpeter ...
Palley, Thomas I.
core
, 1999 Part I of the paper discussed Hyman Minsky's instability hypothesis and its main critics. Part II now gives a general appraisal of Minsky's theory.
J. S. Hart
semanticscholar +1 more source
A re-visit to Minsky after 2007 financial meltdown
, 2011 The 2007 financial crises has brought to eminence and a long overdue recognition to the ideas of Hyman P. Minsky who is a post-Keynesian authority on monetary theory and financial institutions.
Ghani, Shazia
core +2 more sources
The 'War on Poverty' after 40 Years: A Minskyan Assessment [PDF]
Hyman Minsky is best known for his work in the area of financial economics, and especially for his financial instability hypothesis. In recent years, some authors have also recognized his advocacy of the “employer of last resort” as part of his “big ...
L. Randall Wray, Stephanie A. Bell
core