Arbeitspapier

Minsky and the subprime mortgage crisis: The financial instability hypothesis in the era of financialization

The aim of this paper is to develop a structural explanation of the subprime mortgage crisis, grounded on the combination of two apparently incompatible financial theories: the financial instability hypothesis by Hyman P. Minsky and the theory of capital market inflation by Jan Toporowski. Our thesis is that, once the evolution of the financial market is taken into account, the financial Keynesianism of Minsky is still a valid framework to understand the events leading to the crisis.

Sprache
Englisch

Erschienen in
Series: Working Paper ; No. 796

Klassifikation
Wirtschaft
Financial Markets and the Macroeconomy
Financial Crises
Thema
Hyman Minsky
Financial Instability Hypothesis
Jan Toporowski
Capital Market Inflation
Financialization
Financial Crisis
Subprime Mortgage Crisis

Ereignis
Geistige Schöpfung
(wer)
Caverzasi, Eugenio
Ereignis
Veröffentlichung
(wer)
Levy Economics Institute of Bard College
(wo)
Annandale-on-Hudson, NY
(wann)
2014

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
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Objekttyp

  • Arbeitspapier

Beteiligte

  • Caverzasi, Eugenio
  • Levy Economics Institute of Bard College

Entstanden

  • 2014

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