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
     
 

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… See more details below

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 table
Foreword
Acknowledgements
Introduction
Pt. 1Minsky's Endogenous and Financial Cycles
1The Post-Keynesian Legacy3
2The Financial Theory of Investment14
3The 'Incoherence" of Market Economies29
Pt. 2Modelling the Financial Instability Hypothesis
4Linear and Non-Linear Models51
5New-Keynesian Models77
Pt. 3Rationality, Institutions and Financial Instability
6Modelling Minsky's Theory with New-Keynesian Concepts129
7Institutional Dynamics170
Conclusion197
References203
Index219

Read More

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >