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Money manager capitalism and the global financial crisis

Wray, L. Randall - 2009

This paper applies Hyman Minsky’s approach to provide an analysis of the causes of the global financial crisis. Rather than finding the origins in recent developments, this paper links the crisis to the long-term transformation of the economy from a robust financial structure in the 1950s to...

Persistent link: https://www.econbiz.de/10003943049

The financial crisis viewed from the perspective of the "social costs" theory

Wray, L. Randall - 2011

This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein Veblen of the causes of the 1930s collapse are used to show similarities between the two crises. K.W....

Persistent link: https://www.econbiz.de/10008933474

Minsky's money manager capitalism and the global financial crisis

Wray, L. Randall - 2011

The world's worst economic crisis since the 1930s is now well into its third year. All sorts of explanations have been proffered for the causes of the crisis, from lax regulation and oversight to excessive global liquidity. Unfortunately, these narratives do not take into account the systemic...

Persistent link: https://www.econbiz.de/10008933495

In the long run we are all herd: on the nature and outcomes of the beauty contest

Esposito, Lorenzo; Mastromatteo, Giuseppe - 2020

Since the 2008 crisis, the economics literature has shown a renewed interest in Keynes's "beauty contest" (BC) as a fundamental aspect of the functioning of financial markets. We argue that to understand the importance of the BC, psychological and informational factors are of small importance,...

Persistent link: https://www.econbiz.de/10012291952

The (normal) rate of capacity utilization at the firm level

Nikiforos, Michalis - 2012

This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run at the firm level. We provide economic justification for the adjustment of the desired rate of utilization toward the actual rate on behalf of a cost-minimizing firm after examining the...

Persistent link: https://www.econbiz.de/10009665519

Is it time to eliminate federal corporate income taxes?

Lane, Edward; Wray, L. Randall - 2020

Daycares closed on March 16, 2020 in Turkey to prevent the spread of COVID-19. At the same time, the two most common nonparental childcare arrangements in Turkey-care of children by grandparents and nannies-became undesirable due to health concerns and in some cases also unfeasible due to the...

Persistent link: https://www.econbiz.de/10012317634

Financialization and corporate investments : the Indian case

Sen, Sunanda; DasGupta, Zico - 2015

Financialization creates space for the financial sector in economies, and in doing so helps to raise the share of …

Persistent link: https://www.econbiz.de/10010463926

The Sraffian supermultiplier and cycles: theory and empirics

Nikiforos, Michalis; Santetti, Marcio; Von Arnim, Rudiger - 2021

result of the passive role it assigns to investment, the Sraffian supermultiplier (SSM) predicts that the rate of utilization … leads the investment share in a dampened cycle or, equivalently, that a convergent cyclical motion in the utilization-investment … (VAR) for postwar US samples strongly indicate that the investment share leads the rate of utilization, or that these …

Persistent link: https://www.econbiz.de/10012625093

Investment decisions under uncertainty

Sen, Sunanda - 2018

for further research, especially on the motivations behind investment decisions. Investments in market economies are … society. By shaping business concerns and strategies, social institutions have a major impact on investment decisions in a … capitalist system. The role of such institutions in investment decisions via policy making is generally neglected in strategies …

Persistent link: https://www.econbiz.de/10011948136

Growth with unused capacity and endogenous depreciation

Patriarca, Fabrizio; Sardoni, Claudio - 2014

This paper contributes to the debate on income growth and distribution from a nonmainstream perspective. It looks, in particular, at the role that the degree of capacity utilization plays in the process of growth of an economy that is not perfectly competitive. The distinctive feature of the...

Persistent link: https://www.econbiz.de/10010340282

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