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Hyman Minsky's "Stabilizing an unstable economy" - twenty years later

Author

Listed:
  • Papadimitriu, Dimitri

    () (Levy Economics Institute of Bard College)

  • Wray, Randall

    () (Levy Economics Institute of Bard College)

Abstract

The article provides an introduction to the new edition of the book Hyman Minsky "Stabilizing an unstable economy," provides an overview of the works of the scientist throughout his scientific career. The authors show that the theoretical Minsky's ideas have a high degree of community and not only help to explain the crisis in the US economy in 1960-1980-ies, but also can be used to analyze the contemporary manifestations of economic instability.

Suggested Citation

  • Papadimitriu, Dimitri & Wray, Randall, 2016. "Hyman Minsky's "Stabilizing an unstable economy" - twenty years later," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 22-51, April.
  • Handle: RePEc:rnp:ecopol:ep1628
    as

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    File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1628.pdf
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    References listed on IDEAS

    as
    1. Hyman P. Minsky, 1993. "Finance and Stability: The Limits of Capitalism," Economics Working Paper Archive wp_93, Levy Economics Institute.
    2. Hyman Minsky, 1994. "Financial instability and the decline(?) of banking: public policy implications," Proceedings 20, Federal Reserve Bank of Chicago.
    3. Ferri, Piero & Minsky, Hyman P., 1992. "Market processes and thwarting systems," Structural Change and Economic Dynamics, Elsevier, vol. 3(1), pages 79-91, June.
    4. L. Randall Wray, 2005. "The Ownership Society: Social Security Is Only the Beginning," Economics Public Policy Brief Archive ppb_82, Levy Economics Institute.
    5. Hyman P. Minsky, 1957. "Central Banking and Money Market Changes," The Quarterly Journal of Economics, Oxford University Press, vol. 71(2), pages 171-187.
    6. Hyman P. Minsky & Charles J. Whalen, 1996. "Economic Insecurity and the Institutional Prerequisites for Successful Capitalism," Economics Working Paper Archive wp_165, Levy Economics Institute.
    7. repec:mes:jeciss:v:23:y:1989:i:4:p:977-1002 is not listed on IDEAS
    8. Hyman P. Minsky, 1968. "Effects of Shifts of Aggregate Demand upon Income Distribution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 50(2), pages 328-339.
    9. repec:mes:jeciss:v:30:y:1996:i:2:p:357-368 is not listed on IDEAS
    10. repec:mes:jeciss:v:29:y:1995:i:1:p:83-96 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    financial instability hypothesis; the theory of the business cycle; the impact of public debt on the balance sheets; macroeconomic automatic stabilizers;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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