Results 91 to 100 of about 271 (145)

Explaining persistent cycles in a short-run context: firms’ propensity to invest and omnipotent shareholders

open access: yes
In this article, we develop a standard short-run Kaleckian macromodel. First, we study the stability of equilibrium and make some comparative static exercises. Then, we take into account different specifications for an endogenous propensity to invest and
Charles, Sébastien
core  

"Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment" [PDF]

open access: yes
Expanding on an approach developed by financial economist Hyman Minsky, the authors of this new working paper present an alternative to the standard "efficient markets hypothesis"--the relevance of which Minsky vehemently denied.
L. Randall Wray, Eric Tymoigne
core  

"Financial Stability, Regulatory Buffers, and Economic Growth: Some Postrecession Regulatory Implications" [PDF]

open access: yes
Over the past 40 years, regulatory reforms have been undertaken on the assumption that markets are efficient and self-corrective, crises are random events that are unpreventable, the purpose of an economic system is to grow, and economic growth ...
Éric Tymoigne
core  

When Credit Bites Back: Leverage, Business Cycles, and Crises [PDF]

open access: yes
This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study of the universe of over 200 recession episodes in 14 advanced countries between 1870 and 2008, we document two key facts of the modern ...
Òscar Jordà   +2 more
core  

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