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Financial Markets Meltdown: What Can We Learn from Minsky

  • L. Randall Wray

According to this new Public Policy Brief by Senior Scholar L. Randall Wray, the current crisis in financial markets can be traced back to securitization (the "originate and distribute" model), leverage, the demise of relationship-based banking, and the dizzying array of extremely complex instruments that--quite literally--only a handful understand.

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File URL: http://www.levyinstitute.org/pubs/ppb_94.pdf
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Paper provided by Levy Economics Institute in its series Economics Public Policy Brief Archive with number ppb_94.

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Date of creation: Apr 2008
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Handle: RePEc:lev:levppb:ppb_94
Contact details of provider: Web page: http://www.levyinstitute.org

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  1. L. Randall Wray, 2005. "The Ownership Society: Social Security Is Only the Beginning," Economics Public Policy Brief Archive ppb_82, Levy Economics Institute.
  2. Dimitri B. Papadimitriou & L. Randall Wray, 1998. "The Economic Contributions of Hyman Minsky: Varieties of Capitalism and Institutional Reform," Macroeconomics 9802018, EconWPA.
  3. Jan Kregel, 2008. "Minsky’s Cushions of Safety: Systemic Risk and the Crisis in the U.S. Subprime Mortgage Market," Economics Public Policy Brief Archive ppb_93, Levy Economics Institute.
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