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
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Englisch
- Erschienen in
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Series: Working Paper ; No. 796
- Klassifikation
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Wirtschaft
Financial Markets and the Macroeconomy
Financial Crises
- Thema
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Hyman Minsky
Financial Instability Hypothesis
Jan Toporowski
Capital Market Inflation
Financialization
Financial Crisis
Subprime Mortgage Crisis
- Ereignis
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Geistige Schöpfung
- (wer)
-
Caverzasi, Eugenio
- Ereignis
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Veröffentlichung
- (wer)
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Levy Economics Institute of Bard College
- (wo)
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Annandale-on-Hudson, NY
- (wann)
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2014
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Caverzasi, Eugenio
- Levy Economics Institute of Bard College
Entstanden
- 2014