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"The Financial Instability Hypothesis" [PDF]
The Financial Instability Hypothesis (FIH) has both empirical and theoretical aspects that challenge the classic precepts of Smith and Walras, who implied that the economy can be best understood by assuming that it is constantly an equilibrium-seeking ...
Hyman P. Minsky
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"The Minskyan System, Part I: Properties of the Minskyan Analysis and How to Theorize and Model a Monetary Production Economy" [PDF]
This is the first part of a three-part analysis of the Minskyan framework. Via an extensive review of the literature, this paper looks at 12 essential elements necessary to get a good understanding of Minsky's theory, and argues that those elements are ...
Eric Tymoigne
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The Limits of Minsky’s Financial Instability Hypothesis as an Explanation of the Crisis [PDF]
The financial crisis has been widely interpreted as a Minsky crisis. This paper argues that interpretation is misleading. The processes identified in Minsky's financial instability hypothesis played a critical role in the crisis, but that role was part ...
Thomas I. Palley
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Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period.
L. Randall Wray
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Models of Financial System Fragility [PDF]
This survey analyses two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance, in line with mainstream thinking according to which if there is a self-regulating market the units would have rational ...
Iancu, Aurel
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"Financial Keynesianism and Market Instability" [PDF]
In this paper I will follow Hyman Minsky in arguing that the postwar period has seen a slow transformation of the economy from a structure that could be characterized as "robust" to one that is "fragile." While many economists and policymakers have ...
L. Randall Wray
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"The Meltdown of the Global Economy: A Keynes-Minsky Episode?" [PDF]
The enormity and pervasiveness of the global economic crisis that began in 2008 makes it relevant to analyze the circumstances that can explain this catastrophe.
Sunanda Sen
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, 2010 This bachelor thesis deals with the financial instability hypothesis of Hyman P. Minsky and its application to the current financial crisis. The first part of the thesis summarizes the hypothesis, and it mentions works elaborating the hypothesis.
Paulus, Michal
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"The U.S. Credit Crunch of 2007: A Minsky Moment" [PDF]
It is now clear that most economists underestimated the widening economic impact of the credit crunch that has shaken U.S. financial markets since at least mid-July.
Charles J. Whalen
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Minsky and the subprime mortgage crisis: The financial instability hypothesis in the era of financialization [PDF]
, 2014 The aim of this paper is to develop a structural explanation of the subprime mortgage crisis, grounded on the combination of two apparently incompatible financial theories: the financial instability hypothesis by Hyman P. Minsky and the theory of capital
Caverzasi, Eugenio, Eugenio Caverzasi
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