Report June 2001

At the Annual Hyman P. Minsky Conference, summarized in this issue, participants discussed changes in the financial structure and their impact on the financial market and on policy, the current state of the American economy and the ability of monetary and/or fiscal policy to stem what appears to be a slowdown, and the causes of and cures for global financial crises.

Contents: 11th Annual Hyman P. Minsky Conference on Financial Structure, "Can the Financial Structure Avert an Economic Downturn?" * New Working Papers: The Causes of Euro Instability * Endogenous Money in a Coherent Stock-flow Framework * Making EMU Work * Part-year Operation in 19th-century American Manufacturing