There is already a substantial literature documenting the fact that low yield currencies typically appreciate during times of global financial stress and behave as safe havens. The main objective of this paper is to find out what the fundamentals of safe haven currencies are. We analyse a large...

The paper tries to shed light on the conceptual link between international crises like the one following September 11, 2001, the Asian financial crisis of 1997/1998, the end of the Cold War or major international conflicts, and processes of change in the international system. It argues that...

Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period. The basic thesis is that the dynamic forces of a capitalist economy are explosive and must be contained by...