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Measuring macroprudential risk through financial fragility : a Minskyan approach

Tymoigne, Éric - 2012

framework developed by Hyman P. Minsky, the paper focuses on the risk of amplification of shock via a debt deflation instead of … instead of income-based lending, the financial fragility of the economy grew rapidly. -- Debt Deflation ; Minsky ; Financial …

Persistent link: https://www.econbiz.de/10009526594

Fiscal policy, unemployment insurance, and financial crises in a model of growth and distribution

Hannsgen, Greg - 2012

Recently, some have wondered whether a fiscal stimulus plan could reduce the government's budget deficit. Many also worry that fiscal austerity plans will only bring higher deficits. Issues of this kind involve endogenous changes in tax revenues that occur when output, real wages, and other...

Persistent link: https://www.econbiz.de/10009534182

The euro crisis and the job guarantee : a proposal for Ireland

Wray, L. Randall - 2012

; Government Debt Crisis ; Minsky …

Persistent link: https://www.econbiz.de/10009490197

A nonbehavioral theory of saving

Nikiforos, Michalis - 2015

We present a model where the saving rate of the household sector, especially households at the bottom of the income distribution, becomes the endogenous variable that adjusts in order for full employment to be maintained over time. An increase in income inequality and the current account deficit...

Persistent link: https://www.econbiz.de/10011309510

Inside money in a Kaldor-Kalecki-Steindl fiscal policy model : the unit of account, inflation, leverage, and financial fragility

Hannsgen, Greg; Young-Taft, Tai - 2015

We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky …’s financial fragility hypothesis. This approach to modeling Minsky may be unique in the formal Minskyan literature. Namely, we … that (1) the model has no equilibrium (steady state) for reasons related to Minsky's argument that modern capitalist …

Persistent link: https://www.econbiz.de/10010529897

Household debt and housing bubble : a Minskian approach to boom-bust cycles

Ryoo, Soon - 2015

This paper examines macroeconomic dynamics of household debt and housing prices. Drawing on Minsky's insights into …

Persistent link: https://www.econbiz.de/10011522147

Theories of finance and financial crisis : lessons for the Great Recession

Dodig, Nina; Herr, Hansjörg - 2015

Marx, Schumpeter, Wicksell, Hayek, Fisher, Keynes, Minsky, and Kindleberger. Subsequently the contributions of the …

Persistent link: https://www.econbiz.de/10010491508

Interactions in the New Keynesian DSGE models : the Boltzmann–Gibbs machine and social networks approach

Chen, Shu-Heng; Chang, Chia-ling - 2012

The BoltzmannGibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the BoltzmannGibbs distribution can be directly applied, without...

Persistent link: https://www.econbiz.de/10009567075

Interactions in DSGE models : the Boltzmann-Gibbs machine and social networks approach

Chang, Chia-Lin; Chen, Shu-Heng - 2011

While DSGE models have been widely used by central banks for policy analysis, they seem to have been ineffective in calibrating the models for anticipating financial crises. To bring DSGE models closer to real situations, some of researchers have revised the traditional DSGE models. One of the...

Persistent link: https://www.econbiz.de/10009231268

Post-Keynesian institutionalism after the great recession

Whalen, Charles Joseph - 2012

of Hyman Minsky - and identifies directions for future research. Although there is much room for further development, PKI … Economics ; Post-Keynesian Economics ; Financial Instability ; Money-Manager Capitalism ; Hyman Minsky …

Persistent link: https://www.econbiz.de/10009535550