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Economics of the financial crisis : any lessons for the pandemic downturn and beyond?

Elyassi, Hamid - In: Contemporary economics 15 (2021) 1, pp. 100-121

The world economy entered the third decade of this century with uncertainties and challenges of COVID-19 pandemic before it had fully recovered from the lingering aftereffects of the financial crisis. The financial crisis ended a period of overall global economic growth and price stability...

Persistent link: https://www.econbiz.de/10012485796

Reasons for the demise of interest : savings glut and secular stagnation or central bank policy?

Mayer, Thomas; Schnabl, Gunther - 2019

In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...

Persistent link: https://www.econbiz.de/10012124862

The monetary economy and the economic crisis

Laidler, David E. W. - 2011 - Revised, January 2011

The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the "invisible hand", was a...

Persistent link: https://www.econbiz.de/10011708307

Switching-track after the great recession

Vinci, Francesca; Licandro, Omar - 2021

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Persistent link: https://www.econbiz.de/10012533939

Systemic financial fragility and the monetary circuit: a stock-flow consistent Minskian approach

Passarella, Marco - Dipartimento di Ingegneria Gestionale, Università … - 2012

In the last few years, a number of scholars has referred to the crop of contributions of Hyman P. Minsky as „required …-called „financial instability hypothesis? of Minsky relies on muchdisputed assumptions. Moreover, Minsky?s analysis of capitalism must … the most disputed aspects of Minsky?s theory by cross-breeding it with inputs from the current Post-Keynesian literature …

Persistent link: https://www.econbiz.de/10011278432

"Post-Keynesian Institutionalism after the Great Recession"

Whalen, Charles J. - Levy Economics Institute - 2012

of Hyman Minsky--and identifies directions for future research. Although there is much room for further development, PKI …

Persistent link: https://www.econbiz.de/10010548940

Financial structure, cycle, and instability

Ninomiya, Kenshiro - In: Journal of economic structures : JES; the official … 11 (2022), pp. 1-23

The subprime loan mortgage crisis has revived scholarly interest in Minsky's financial instability hypothesis. The …

Persistent link: https://www.econbiz.de/10013459612

The Euro Crisis and the Job Guarantee : A Proposal for Ireland

Wray, L. Randall - 2012

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Persistent link: https://www.econbiz.de/10013110505

Detecting Ponzi Finance : An Evolutionary Approach to the Measure of Financial Fragility

Tymoigne, Eric - 2010

Different frameworks of analysis lead to different conceptions of financial instability and financial fragility. On one side, the static approach conceptualizes financial instability as an unfortunate by-product of capitalism that results from unpredictable random forces that no one can do...

Persistent link: https://www.econbiz.de/10013141548

A Contribution to the Theory of Financial Fragility and Crisis

Bhaduri, Amit - 2010

The paper examines three aspects of a financial crisis of domestic origin. The first section studies the evolution of a debt-financed consumption boom supported by rising asset prices, leading to a credit crunch and fluctuations in the real economy, and, ultimately, to debt deflation. The next...

Persistent link: https://www.econbiz.de/10013143561