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Hyman Minsky's "Stabilizing an unstable economy" - twenty years later
[«Стабилизируя Нестабильную Экономику» Хаймана Мински — Двадцать Лет Спустя]

Author

Listed:
  • Papadimitriu, Dimitri (Пападимитриу, Димитри)

    (Levy Economics Institute of Bard College)

  • Wray, Randall (Рэй, Рэндалл)

    (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 (Пападимитриу, Димитри) & Wray, Randall (Рэй, Рэндалл), 2016. "Hyman Minsky's "Stabilizing an unstable economy" - twenty years later [«Стабилизируя Нестабильную Экономику» Хаймана Мински — Двадцать Лет Спустя]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 22-51, April.
    • Handle: RePEc:rnp:ecopol:ep1628
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    References listed on IDEAS

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    1. Domenico Delli Gatti & Mauro Gallegati & Hyman P. Minsky, 1994. "Financial Institutions, Economic Policy, and the Dynamic Behavior of the Economy," Economics Working Paper Archive wp_126, Levy Economics Institute.
    2. Hyman P. Minsky, 1993. "Finance and Stability: The Limits of Capitalism," Economics Working Paper Archive wp_93, Levy Economics Institute.
    3. Hyman P. Minsky & Dimitri B. Papadimitriou & Ronnie J. Phillips & L. Randall Wray, "undated". "Community Development Banking, A Proposal to Establish a Nationwide System of Community Development Banks," Economics Public Policy Brief Archive 3, Levy Economics Institute.
    4. Stephanie Bell & L. Randall Wray, "undated". "The War on Poverty After 40 Years: A Minskyan Assessment," Economics Public Policy Brief Archive ppb_78, Levy Economics Institute.
    5. Hyman P. Minsky, 1994. "Financial Instability and the Decline(?) of Banking: Public Policy Implications," Economics Working Paper Archive wp_127, Levy Economics Institute.
    6. Ferri, Piero & Minsky, Hyman P., 1992. "Market processes and thwarting systems," Structural Change and Economic Dynamics, Elsevier, vol. 3(1), pages 79-91, June.
    7. L. Randall Wray, 2005. "The Ownership Society: Social Security Is Only the Beginning," Economics Public Policy Brief Archive ppb_82, Levy Economics Institute.
    8. Hyman P. Minsky, 1957. "Central Banking and Money Market Changes," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 71(2), pages 171-187.
    9. Hyman P. Minsky & Charles J. Whalen, 1996. "Economic Insecurity and the Institutional Prerequisites for Successful Capitalism," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 19(2), pages 155-170, December.
    10. Hyman P. Minsky, 1992. "Profits, Deficits and Instability: A Policy Discussion," Palgrave Macmillan Books, in: Profits, Deficits and Instability, chapter 2, pages 11-22, Palgrave Macmillan.
    11. Hyman P. Minsky, 1996. "Uncertainty and the Institutional Structure of Capitalist Economies," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(2), pages 357-368, June.
    12. Dimitri B. Papadimitriou, 1992. "Profits, Deficits and Instability," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-11786-4.
    13. L. Randall Wray, 1989. "A Keynesian Presentation of the Relations among Government Deficits, Investment, Saving, and Growth," Journal of Economic Issues, Taylor & Francis Journals, vol. 23(4), pages 977-1002, December.
    14. 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.
    15. Dimitri B. Papadimitriou & L. Randall Wray, "undated". "How Can We Provide for the Baby Boomers in Their Old Age?," Economics Policy Note Archive 99-5, Levy Economics Institute.
    16. Hyman P. Minsky, 1995. "Longer Waves in Financial Relations: Financial Factors in the More Severe Depressions II," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(1), pages 83-96, March.
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    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;
    All these keywords.

    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; Modern Monetary Theory
    • 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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