Financial Stability, Systems and Regulation

Ever since the 2007–8 global financial crisis and its aftermath, Hyman Minsky’s theory has never been more relevant.

Throughout his career, Jan Kregel has called attention to Minsky’s contributions to understanding the evolution of financial systems, the development of financial fragility and instability, and designing the financial structure necessary to support the capital development of the economy. Building on Minsky, Kregel developed a framework to analyze how different financial struc...