This paper examines the degree to which the taste similarity (Linder) hypothesis explains trade patterns between the 'Four Tigers' East Asian New Industrial Countries (NICs), and their major OECD markets (and suppliers). The tests cover the period 1965-90, during which trade between these...

This paper reviews the Japanese growth recession from 1991 to 2001 and the recent U.S. financial crisis to determine the relevancy of the "liquidity trap" hypothesis (due originally to Keynes updated by Krugman) and a Minsky crisis hypothesis. To evaluate the Minsky hypothesis, we use the same...