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Financialisation and the financial and economic crises: Theoretical framework and empirical analysis for 15 countries

Dodig, Nina; Hein, Eckhard; Detzer, Daniel - 2015

of the crises and we discuss the implications of these recent developments for the world economy. …

Persistent link: https://www.econbiz.de/10011310221

Finance-dominated capitalism in crisis: The case for a Global Keynesian New Deal

Hein, Eckhard; Truger, Achim - 2010

imbalances in the world economy associated with finance-dominated capitalism. From this it follows that in the near and not so … near future, the US will no longer be able to act as the driving force for world demand. In order to avoid a period of … deflationary stagnation in major parts of the world economy, we finally propose the policy package of a Global Keynesian New Deal …

Persistent link: https://www.econbiz.de/10010309132

The European economic crisis from 2007 onwards in the context of a global crisis of over-production of capital - a Marxian monetary theory of value interpretation

Gander, Sascha - 2019

This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes in-trinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the...

Persistent link: https://www.econbiz.de/10012099421

Money, banking, and old-school historical economics

Monnet, Eric; Velde, François R. - 2020

We review developments in the history of money, banking, and financial intermediation over the last twenty years. We focus on studies of financial development, including the role of regulation and the history of central banking. We also review the literature of banking and financial crises. This...

Persistent link: https://www.econbiz.de/10012653026

When credit bites back: Leverage, business cycles and crises

Jordà, Òscar; Schularick, Moritz; Taylor, Alan - 2012

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 business cycle: financial-crisis...

Persistent link: https://www.econbiz.de/10010318835

What Do We Really Know About the Long-Term Evolution of Central Banking? Evidence from the Past, Insights for the Present

Ugolini, Stefano - 2011

The ongoing financial crisis is shaking central bankers' certainties about their mission, and a rethinking of such mission can greatly benefit from a non-finalistic reassessment of how central banking has evolved over the centuries. This paper does so by taking a functional, instead of an...

Persistent link: https://www.econbiz.de/10012143780

Global imbalances, Bretton Woods II, and Euroland's role in all this

Bibow, Jörg - 2006

Approaching the issue of mounting global imbalances from the perspective of the "Bretton Woods II hypothesis," this paper argues that the popular preoccupation with China's supposed export-led development strategy is misplaced. It also suggests, similar to Japan's depression, subdued growth in...

Persistent link: https://www.econbiz.de/10010266439

The socialization of investment, from Keynes to Minsky and beyond

Bellofiore, Riccardo - 2014

An understanding of, and an intervention into, the present capitalist reality requires that we put together the insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer-term perspective, looking at the different stages through which...

Persistent link: https://www.econbiz.de/10010513052

Lessons from the subprime meltdown

Wray, L. Randall - 2007

This paper uses Hyman P. Minsky's approach to analyze the current international financial crisis, which was initiated by problems in the American real estate market. In a 1987 manuscript, Minsky had already recognized the importance of the trend toward securitization of home mortgages. This...

Persistent link: https://www.econbiz.de/10010266599

Keynes's theories of the business cycle: Evolution and contemporary relevance

Bortz, Pablo G. - 2021

This paper traces the evolution of John Maynard Keynes's theory of the business cycle from his early writings in 1913 to his policy prescriptions for the control of fluctuations in the early 1940s. The paper identifies six different "theories" of business fluctuations. With different theoretical...

Persistent link: https://www.econbiz.de/10012610214

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