Results 11 to 20 of about 1,649 (173)
Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment [PDF]
SSRN Electronic Journal, 2008 In this chapter we will present a theory of the financing of investment in a modern capitalist economy. Our exposition will closely follow the approach developed by Hyman Minsky, arguably the most important contributor to our understanding of this topic.
L. Randall Wray, Eric Tymoigne
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Methodology and Microeconomics in the Early Work of Hyman P. Minsky [PDF]
SSRN Electronic Journal, 2006 This paper reviews the recently published Ph.D. thesis of Hyman P. Minsky, summarizing its main contributions to methodology and microeconomics. These were aspects of economics with which Minsky is not usually associated, but which lie at the foundation of his later work. They include critical remarks on Cambridge economics.
Jan Toporowski
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Journal of Industrial Ecology, Volume 27, Issue 4, Page 1197-1211, August 2023., 2023 Abstract The objective of this paper is to explain the cause and proceedings of the 1930s Great Depression from a biophysical economic perspective. The Depression was a painful episode in the socio‐technological transition from a coal/railroad regime to one based on hydrocarbons, motor vehicles, and electricity. The beginning—the Great Crash of October
Christopher A. Kennedy
wiley +1 more source
Climate‐related risks in financial assets
Journal of Economic Surveys, Volume 37, Issue 3, Page 950-992, July 2023., 2023 Abstract The financial risks and potential systemic impacts induced by climate change and the transition to a low‐carbon economy have become a central issue for both financial investors and their regulators. In this article, we develop a critical review of the empirical and theoretical literature concerning the impact of climate‐related risks on the ...
Emanuele Campiglio +3 more
wiley +1 more source
Business Ethics, the Environment &Responsibility, Volume 32, Issue S1, Page 52-64, April 2023., 2023 Abstract This paper analyses the main perceptions of capitalism and crises from a mainstream and heterodox perspective. Broadly defined within the neoclassical structure, the mainstream approaches support the idea of long‐term stability of capitalism and describe crises as exogenous events. The heterodox perceptions, on the contrary, perceive crises as
Sophia Kuehnlenz +2 more
wiley +1 more source
Law and macro finance of corporate debt: Managing the business cycle through bankruptcy
International Insolvency Review, Volume 31, Issue 3, Page 343-362, Winter 2022., 2022 Abstract This article proposes that, as a matter of policy, the bankruptcy law protections of creditors offering to lend money to large firms in a boom should be weaker than those of creditors offering to lend to such firms in a bust. The policy goals of bankruptcy law under this proposal, inspired by the theoretical framework for Law and Macro Finance,
M. Konrad Borowicz
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History as heresy: Unlearning the lessons of economic orthodoxy
The Economic History Review, Volume 75, Issue 2, Page 297-335, May 2022., 2022 Abstract Unprecedented liquidity injections by central bankers have gained legitimacy in recent years to stave off economic crisis and enjoy strong support from prominent economists and economic historians. Such radical action by central bankers is underpinned by a remarkable agreement on a specific interpretation of the Great Depression of the 1930s ...
Mary A. O'Sullivan
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Cognitive economics and the Market Mind Hypothesis: Exploring the final frontier of economics
Economic Affairs, Volume 42, Issue 1, Page 87-114, February 2022., 2022 Abstract Cognitive economics partners cognitive science and economics: cognitive science teaches economics about mentality (present in markets), whereas economics teaches cognitive science about market forces (present in minds). The shared Market Mind principle is intelligent (sometimes conscious) self‐organisation.
Patrick Schotanus
wiley +1 more source
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
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PSL Quarterly Review, 2013 The paper is a contribution to a series of recollections and reflections on the professional experiences of distinguished economists which the Banca Nazionale del Lavoro Quarterly Review started in 1979.
H.P. MINSKY
doaj +1 more source