Heterogeneity in household consumption behavior: The role of inequality and financial instability
Journal of evolutionary economicsWe analyze, using the micro data of the Household Financial Survey (HFS) of the Bank of Spain, the consumption consequences of the household balance sheets and debt accumulation during the real estate bubble of 2002–2005, the Great Recession (2008–2011 ...
J. Laborda, Cristina Suárez
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Subprime Crisis and Instability of Global Financial Markets [PDF]
In order to prescribe adequate remedies to treat the current financial crisis one has to understand what in the first place went wrong. An age ago, older generations wrote that disease could not be cured without an accurate diagnosis.
Miodrag Zec, Ognjen Radonjić
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"The Asian Disease: Plausible Diagnoses, Possible Remedies" [PDF]
The Asian crisis is a textbook case of the "financial instability hypothesis" first expressed in 1966 by the late Hyman Minsky. Minsky's "hypothesis" was proposed to explain instability in a large, insulated, developed economy.
Martin Mayer
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A Theory of Minsky Super-Cycles and Financial Crises [PDF]
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 ...
Thomas I. Palley
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"Minsky’s Cushions of Safety: Systemic Risk and the Crisis in the U.S. Subprime Mortgage Market" [PDF]
The current crisis in the financial systems of developed countries is often explained in terms of Hyman P. Minsky’s financial fragility hypothesis. Minsky was an economist at the Levy Institute and the foremost expert on credit crunches.
Jan Kregel
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Financial production and the subprime mortgage crisis. [PDF]
J Evol Econ, 2023 Tori D, Caverzasi E, Gallegati M.
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"Minsky Moments, Russell Chickens, and Gray Swans--The Methodological Puzzles of the Financial Instability Analysis" [PDF]
The recent revival of Hyman P. Minsky's ideas among policymakers, economists, bankers, financial institutions, and the mass media, synchronized with the increasing gravity of the subprime financial crisis, demands a reappraisal of the meaning and scope ...
Alessandro Vercelli
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"What Do Banks Do? What Should Banks Do?" [PDF]
Before we can reform the financial system, we need to understand what banks do; or, better, what banks should do. This paper will examine the later work of Hyman Minsky at the Levy Institute, on his project titled "Reconstituting the United States ...
L. Randall Wray
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Working Paper No. 23, Hyman Minsky and Financial Instability [PDF]
, 2019 Hyman Minsky can readily be categorized as a post-Keynesian economist, for he advances a purist’s interpretation of John Maynard Keynes’ The General Theory of Employment, Interest and Money.
Caballero, Gabriel
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Mexico: Determinants of the real exchange rate, 2001.01-2022.12. [PDF]
PLoS One, 2023 Loría E, Nalin L.
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