Finance, Investment and Economic Fluctuations: An Analysis in the Tradition of Hyman P. Minsky

Finance, Investment and Economic Fluctuations: An Analysis in the Tradition of Hyman P. Minsky

by Eric Nasica
     
 

ISBN-10: 1858988969

ISBN-13: 9781858988962

Pub. Date: 08/01/2000

Publisher: Elgar, Edward Publishing, Inc.

In light of recent outbreaks of financial instability, Nasica (economics, U. of Nice-Sophia Antipolis, France) offers a tribute to the work of Minsky (d. 1996), who was best known for his financial fragility hypothesis. He also examines more recent models of financial instability, based on dynamic non-linear systems and asymmetric information, but finds that they are

Overview

In light of recent outbreaks of financial instability, Nasica (economics, U. of Nice-Sophia Antipolis, France) offers a tribute to the work of Minsky (d. 1996), who was best known for his financial fragility hypothesis. He also examines more recent models of financial instability, based on dynamic non-linear systems and asymmetric information, but finds that they are unable to account adequately for the behavior of agents in situations of uncertainty and for the role of institutions in the unfolding of fluctuations. Finally, he compares fluctuations and finds that they have a similar approach to uncertainty and macroeconomic instability. Annotation c. Book News, Inc., Portland, OR

Product Details

ISBN-13:
9781858988962
Publisher:
Elgar, Edward Publishing, Inc.
Publication date:
08/01/2000
Pages:
240
Product dimensions:
6.12(w) x 9.25(h) x (d)

Table of Contents

List of figures and tablevi
Forewordvii
Acknowledgementsix
Introductionx
Part 1Minsky's Endogenous and Financial Cycles
1.The Post-Keynesian Legacy3
2.The Financial Theory of Investment14
3.The 'Incoherence' of Market Economies29
Part 2Modelling the Financial Instability Hypothesis
4.Linear and Non-Linear Models51
5.New-Keynesian Models77
Part 3Rationality, Institutions and Financial Instability
6.Modelling Minsky's Theory with New-Keynesian Concepts129
7.Institutional Dynamics170
Conclusion197
References203
Index219

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