Minsky's Financial Fragility Hypothesis: a Missing Macroeconomic Link?
AbstractThe paper examines an important contribution of Hyman P. Minsky to Post-Keynesian economic analysis: his financial fragility hypothesis. Because of its lack of Keynesian macroeconomic foundation, the authors show how his famous hypothesis is built on a rather faulty theoretical analysis. Moreover, by studying data from Canada and other OECD countries, the paper also seeks to demonstrate why Minsky hypothesis is based on a shaky empirical one.
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Bibliographic InfoPaper provided by University of Ottawa, Department of Economics in its series Working Papers with number 9904e.
Length: 28 pages
Date of creation: 1999
Date of revision:
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MONEY ; FINANCIAL MARKET ; CANADA;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
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- Eric Tymoigne, 2010. "Detecting Ponzi Finance: An Evolutionary Approach to the Measure of Financial Fragility," Economics Working Paper Archive wp_605, Levy Economics Institute, The.
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