Hardback
Financial Fragility and Investment in the Capitalist Economy
The Economic Legacy of Hyman Minsky, Volume II
9781840643596 Edward Elgar Publishing
Hyman Minsky is renowned for his theoretical and empirical investigation of the capitalist economy. In this book, a distinguished group of contributors provides an authoritative account of his contribution to the analysis of capitalism and, more particularly, to the fields of monetary and post Keynesian economics.
More Information
Contributors
Contents
More Information
Hyman Minsky is renowned for his theoretical and empirical investigation of the capitalist economy. In this book, a distinguished group of contributors provides an authoritative account of his contribution to the analysis of capitalism and, more particularly, to the fields of monetary and post Keynesian economics.
The authors first provide an introduction to Hyman Minsky’s economic legacy before going on to discuss his role in analysing the macroeconomy, monetary policy and instability. In detail, they consider the structural instability of a sophisticated market economy, the NAIRU, Minsky’s financial fragility hypothesis, his business cycle theory, his investment theory and debt inflation.
This thought-provoking book will be of interest to scholars of financial economics, post Keynesian economics and the history of economic thought.
The authors first provide an introduction to Hyman Minsky’s economic legacy before going on to discuss his role in analysing the macroeconomy, monetary policy and instability. In detail, they consider the structural instability of a sophisticated market economy, the NAIRU, Minsky’s financial fragility hypothesis, his business cycle theory, his investment theory and debt inflation.
This thought-provoking book will be of interest to scholars of financial economics, post Keynesian economics and the history of economic thought.
Contributors
Contributors: R. Arena, R. Bellofiore, C. Chiarella, D. Delli Gatti, S.M. Fazzari, P. Ferri, P. Flaschel, M. Gallegati, E. Greenberg, G. Harcourt, M. Lavoie, A. Raybaut, M. Seccareccia, W. Semmler, A. Vercelli
Contents
Contents: Introduction: ‘Things Fall Apart, the Centre Cannot Hold’ Part I: Dynamic Macro Links 1. Minsky, Keynes and the Structural Instability of a Sophisticated Monetary Economy 2. Ceilings and Floors, Growth and the NAIRU 3. Investment Expenditure, Unrealized Expectations, and Offsetting Monetary Policies 4. Minsky’s Financial Fragility Hypothesis: A Missing Macroeconomic Link? Part II: Modelling Instability 5. The Macroeconomics of Minsky’s Investment Theory 6. On the Foundations of Minsky’s Business Cycles Theory: An Interpretation 7. The Macrodynamics of Debt Inflation 8. Financial Instability Revisited: Aggregate Fluctuations due to Changing Financial Conditions of Heterogeneous Firms Index
