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Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment
13 references·5 citing·35 second hop
Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment (2008)Macroeconomics Meets Hyman P. Minsky: The…The General Theory of Employment, Interest and Money (2017)The General Theory of Employm…Le pouvoir de la finance (2012)Le pouvoir de la financeUnderstanding the Credit Crunch as a Minsky Moment (2008)Understanding the Credit Crun…Minsky's ‘Cushions of Safety', Systemic Risk and the Crisis in the Subprime Mortgage Market (2008)Minsky's ‘Cushions of Safety'…Lessons from the Subprime Meltdown (2008)Lessons from the Subprime Mel…Margins of Safety and Weight of the Argument in Generating Financial Fragility (1997)Margins of Safety and Weight …Alternative theories of the rate of interest (1992)Alternative theories of the r…Financial Structure and Aggregate Economic Activity: An Overview (1988)Financial Structure and Aggre…Economic Methodology in the Face of Uncertainty: The Modelling Methods of Keynes and the Post-Keynesians (1976)Economic Methodology in the F…The Optimum Quantity of Money. (1970)The Optimum Quantity of Money.Efficient Capital Markets: A Review of Theory and Empirical Work (1970)Efficient Capital Markets: A …A General Equilibrium Approach To Monetary Theory (1969)A General Equilibrium Approac…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…Minsky from the bottom up – Formalising the two-price model of investment in a simple agent-based framework (2020)Minsky from the bottom up – F…Hyman Minsky's financial instability hypothesis and the Greek debt crisis (2015)Hyman Minsky's financial inst…The Role of Income Inequality in Crisis Theories and in the Subprime Crisis (2014)The Role of Income Inequality…A simplified stock-flow consistent dynamic model of the systemic financial fragility in the ‘New Capitalism’ (2012)A simplified stock-flow consi…The financial instability hypothesis: A stochastic microfoundation framework (2011)The financial instability hyp…The General Theory of Employment, Interest and Money, by John Maynard Keynes (1936)The General Theory of Employment, Interest and Money. (1936)A Critique of Monetary Policy (1990)Regimes of Interest Rates, Income Shares, Savings and Investment: A Kaleckian Model and Empirical Estimations for some Advanced OECD Economies (2003)A Post Keynesian view of central bank independence, policy targets, and the rules versus discretion debate (2007)Financial Structure and Development. (1970)The Declining Credit Quality of U.S. Corporate Debt: Myth or Reality? (1998)A Monetary History of the United States, 1867-1960 (2008)Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008 (2009)Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom (2009)The General Theory of Employment, Interest and Money. (1936)The Natural Instability of Financial Markets (2007)Using Minsky's Cushions of Safety to Analyze the Crisis in the U. S. Subprime Mortgage Market (2008)For a political economy of financialization: theory and evidence (2017)Information Technology and the U.S. Economy (2001)Nursery Cities: Urban Diversity, Process Innovation, and the Life Cycle of Products (2001)Does female representation in top management improve firm performance? A panel data investigation (2012)POST KEYNESIANISM: FROM CFUTICISM TO COHERENCE? (1988)The meaning of open systems (2005)The Wealth of Ideas (2005)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Chapter 21 Rules versus discretion in monetary policy (1990)The Fiscal Abuse of Central Banks (1993)When rules started to rule: the IMF, neo-liberal economic ideas and economic policy change in Britain (2011)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Users of the world, unite! The challenges and opportunities of Social Media (2009)Relation between bid–ask spread, impact and volatility in order-driven markets (2007)Forging Glocal Governance? Urban Infrastructures as Networked Financial Products (2008)Exchange rate dynamics in a peripheral monetary economy (2013)Financing the Capital Development of the Economy: A Keynes-Schumpeter-Minsky Synthesis (2015)The Role of Investor Gut Feel in Managing Complexity and Extreme Risk (2017)Financial planning behaviour: a systematic literature review and new theory development (2023)
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References

  • 1970Efficient Capital Markets: A Review of Theory and Empirical Work13,616 cited
  • 1969A General Equilibrium Approach To Monetary Theory5,340 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1988Financial Structure and Aggregate Economic Activity: An Overview462 cited
  • 1976Economic Methodology in the Face of Uncertainty: The Modelling Methods of Keynes and the Post-Keynesians375 cited
  • 2012Le pouvoir de la finance217 cited
  • 1992Alternative theories of the rate of interest146 cited
  • 2017The General Theory of Employment, Interest and Money142 cited
  • 1970The Optimum Quantity of Money.131 cited
  • 1997Margins of Safety and Weight of the Argument in Generating Financial Fragility91 cited
  • 2008Lessons from the Subprime Meltdown62 cited
  • 2008Minsky's ‘Cushions of Safety', Systemic Risk and the Crisis in the Subprime Mortgage Market54 cited
  • 2008Understanding the Credit Crunch as a Minsky Moment42 cited

Cited by

  • 2011The financial instability hypothesis: A stochastic microfoundation framework72 cited
  • 2012A simplified stock-flow consistent dynamic model of the systemic financial fragility in the ‘New Capitalism’

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38 cited
  • 2015Hyman Minsky's financial instability hypothesis and the Greek debt crisis21 cited
  • 2020Minsky from the bottom up – Formalising the two-price model of investment in a simple agent-based framework18 cited
  • 2014The Role of Income Inequality in Crisis Theories and in the Subprime Crisis12 cited