Finance, Investment and Economic Fluctuations
An Analysis in the Tradition of Hyman P. Minsky
Seiten
2000
Edward Elgar Publishing Ltd (Verlag)
978-1-85898-896-2 (ISBN)
Edward Elgar Publishing Ltd (Verlag)
978-1-85898-896-2 (ISBN)
Recent outbreaks of financial instability have spurred new interest in the works of the late Hyman P. Minsky who made path-breaking contributions to our understanding of contemporary market economies. This book provides an innovative tribute to Minsky’s work and sheds new light on the nature of economic fluctuations and financial instability.
Recent outbreaks of financial instability have spurred new interest in the works of the late Hyman P. Minsky who made path-breaking contributions to our understanding of contemporary market economies. This book provides an innovative tribute to Minsky's work and sheds new light on the nature of economic fluctuations and financial instability.Eric Nasica provides a contemporary analysis of the relationship between finance, investment and fluctuations. He focuses on the contributions of Hyman P. Minsky and, in particular, on his financial instability hypothesis. He also examines more recent models of financial instability, based on dynamic non-linear systems and asymmetric information, but finds that they are unable to account adequately for the behaviours of agents in situations of uncertainty and for the role of institutions in the unfolding of fluctuations. Minsky's theory of fluctuations accounts for these factors in the role of 'institutional dynamics'. Finally, the author compares fluctuations and finds that they have a similar approach to uncertainty and macroeconomic instability.
Finance, Investment and Economic Fluctuations will prove invaluable to scholars of macroeconomics and finance.
Recent outbreaks of financial instability have spurred new interest in the works of the late Hyman P. Minsky who made path-breaking contributions to our understanding of contemporary market economies. This book provides an innovative tribute to Minsky's work and sheds new light on the nature of economic fluctuations and financial instability.Eric Nasica provides a contemporary analysis of the relationship between finance, investment and fluctuations. He focuses on the contributions of Hyman P. Minsky and, in particular, on his financial instability hypothesis. He also examines more recent models of financial instability, based on dynamic non-linear systems and asymmetric information, but finds that they are unable to account adequately for the behaviours of agents in situations of uncertainty and for the role of institutions in the unfolding of fluctuations. Minsky's theory of fluctuations accounts for these factors in the role of 'institutional dynamics'. Finally, the author compares fluctuations and finds that they have a similar approach to uncertainty and macroeconomic instability.
Finance, Investment and Economic Fluctuations will prove invaluable to scholars of macroeconomics and finance.
Eric Nasica, Lecturer in Economics, University of Nice–Sophia Antipolis, France
Contents: Introduction Part I: Minsky’s Endogenous and Financial Cycles 1. The Post-Keynesian Legacy 2. The Financial Theory of Investment 3. The ‘Incoherence’ of Market Economies Part II: Modelling the Financial Instability Hypothesis 4. Linear and Non-Linear Models 5. New-Keynesian Models Part III: Rationality, Institutions and Financial Instability 6. Modelling Minsky’s Theory with New-Keynesian Concepts 7. Institutional Dynamics Conclusion References Index
| Erscheint lt. Verlag | 25.5.2000 |
|---|---|
| Verlagsort | Cheltenham |
| Sprache | englisch |
| Maße | 156 x 234 mm |
| Themenwelt | Wirtschaft ► Allgemeines / Lexika |
| Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
| Wirtschaft ► Volkswirtschaftslehre | |
| ISBN-10 | 1-85898-896-9 / 1858988969 |
| ISBN-13 | 978-1-85898-896-2 / 9781858988962 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
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