Publications

214 publications found, searching for 'Financial Instability '

• One-Pager No. 23
  December 15, 2011

  29.000.000.000.000: Μια λεπτομερή ματιά στη διάσωση του χρηματοπιστωτικού συστήματος από την Ομοσπονδιακή Τράπεζα των ΗΠΑ

  L. Randall Wray
  Abstract

  Το εξαιρετικό εύρος και το μέγεθος της χρηματοοικονομικής κρίσης του 2007–09 προκάλεσαν μια εκπληκτική ανταπόκριση από την Fed στο πλαίσιο της λειτουργίας της ως δανειστής της εσχάτης προσφυγής. Υπάρχουν αρκετές…more

  Download Μονοσέλιδο Νο. 23 PDF (232.62 KB)
• One-Pager No. 23
  December 15, 2011

  $29,000,000,000,000: A Detailed Look at the Fed’s Bailout of the Financial System

  L. Randall Wray
  Abstract

  The extraordinary scope and magnitude of the financial crisis of 2007–09 induced an extraordinary response by the Federal Reserve in the fulfillment of its lender-of-last-resort function. Estimates of the total…more

  Download One-Pager No. 23 PDF (51.78 KB)
• Working Paper No. 698
  December 09, 2011

  $29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient

  James Andrew Felkerson
  Abstract

  There have been a number of estimates of the total amount of funding provided by the Federal Reserve to bail out the financial system. For example, Bloomberg recently claimed that…more

  Download Working Paper No. 698 PDF (389.92 KB)
• Working Paper No. 695
  November 07, 2011

  Orthodox versus Heterodox (Minskyan) Perspectives of Financial Crises

  Jesús Muñoz
  Abstract

  Orthodox and heterodox theories of financial crises are hereby compared from a theoretical viewpoint, with emphasis on their genesis. The former view (represented by the fourth-generation models of Paul Krugman)…more

  Download Working Paper No. 695 PDF (413.55 KB)
• Public Policy Brief No. 120
  October 13, 2011

  Waiting for the Next Crash

  L. Randall Wray
  Abstract

  Senior Scholar L. Randall Wray lays out the numerous and critical ways in which we have failed to learn from the latest global financial crisis, and identifies the underlying trends…more

  Download Public Policy Brief No. 120, 2011 PDF (324.50 KB)
• One-Pager No. 14
  October 11, 2011

  Neoliberalism and the State of the Advanced World Economy

  C. J. Polychroniou
  Abstract

  Whoever said that economic science is free of ideological bias and political prejudice? Three hundred years of financial and economic crises have meant nothing to die-hard neoliberals, who believe in…more

  Download One-Pager No. 14 PDF (64.92 KB)
• One-Pager No. 14
  October 11, 2011

  Νεοφιλελευθερισμός και η κατάσταση της προηγμένης παγκόσμιας οικονομίας

  C. J. Polychroniou
  Abstract

  Ποιος είπε ότι η οικονομική επιστήμη δεν είναι ιδεολογικά προκατειλημμένη και δεν πάσχει από πολιτική μεροληψία; Τριακόσια χρόνια χρηματοπιστωτικων και οικονομικών κρίσεων δε λένε απολύτως τίποτα στους αδιάλλακτους νεοφιλελεύθερους, που…more

  Download Μονοσέλιδο Νο. 14 PDF (393.32 KB)
• Working Paper No. 681
  August 12, 2011

  Μαθήματα που θα έπρεπε να παίρναμε από την παγκόσμια χρηματοοικονομική κρίση αλλά δεν το κάναμε

  L. Randall Wray
  Abstract

  Η εργασία αυτή ξεκινάει μετρώντας ξανά τα αίτια και τις συνέπειες της παγκόσμιας χρηματοοικονομικής κρίσης (ΠΧΚ). Το γεγονός που πυροδότησε την κρίση ήταν, φυσικά, το ξεδίπλωμα της κρίσης στα στεγαστικά…more

  Download Επιστημονική Εργασία υ̟πό Εξέλιξη (Working Paper) No. 681 PDF (368.36 KB)
• Working Paper No. 681
  August 12, 2011

  Lessons We Should Have Learned from the Global Financial Crisis but Didn’t

  L. Randall Wray
  Abstract

  This paper begins by recounting the causes and consequences of the global financial crisis (GFC). The triggering event, of course, was the unfolding of the subprime crisis; however, the paper…more

  Download Working Paper No. 681 PDF (199.63 KB)
• Working Paper No. 677
  July 18, 2011

  The Global Crisis and the Remedial Actions

  Sunanda Sen
  Abstract

  The global financial crisis has now spread across multiple countries and sectors, affecting both financial and real spheres in the advanced as well as the developing economies. This has been…more

  Download Working Paper No. 677 PDF (437.59 KB)
• Working Paper No. 674
  July 05, 2011

  Institutional Prerequisites of Financial Fragility within Minsky’s Financial Instability Hypothesis

  Christine Sinapi
  Abstract

  The relevancy of Minsky’s Financial Instability Hypothesis (FIH) in the current (and still unfolding) crisis has been clearly acknowledged by both economists and regulators. While most papers focus on discussing…more

  Download Working Paper No. 674 PDF (1.67 MB)
• One-Pager No. 10
  June 21, 2011

  Will the Recovery Continue?

  Dimitri B. Papadimitriou
  Abstract

  With quantitative easing winding down and the latest payroll tax-cut measures set to expire at the end of this year, pressing questions loom about the current state of the US…more

  Download One-Pager No. 10 PDF (108.08 KB)
• Working Paper No. 669
  May 17, 2011

  Race, Power, and the Subprime/Foreclosure Crisis

  Gary A. Dymski, Jesus Hernandez, and Lisa Mohanty
  Abstract

  Economists’ principal explanations of the subprime crisis differ from those developed by noneconomists in that the latter see it as rooted in the US legacy of racial/ethnic inequality, and especially…more

  Download Working Paper No. 669 PDF (1.72 MB)
• Research Project Report
  April 12, 2011

  Minsky on the Reregulation and Restructuring of the Financial System

  Abstract

  This monograph is part of the Institute’s ongoing research program on Financial Instability and the Reregulation of Financial Institutions and Markets, funded by the Ford Foundation. This program’s purpose is…more

  Download Research Project Report, April 12, 2011 PDF (3.24 MB)
• Public Policy Brief No. 118
  April 11, 2011

  Will the Recovery Continue?

  Dimitri B. Papadimitriou
  Abstract

  In this brief, Research Scholar Greg Hannsgen and President Dimitri B. Papadimitriou focus on the risks and possibilities ahead for the US economy. Using a Keynesian approach and drawing from…more

  Download Public Policy Brief No. 118, 2011 PDF (1.40 MB)
• Public Policy Brief No. 117
  April 05, 2011

  It’s Time to Rein In the Fed

  L. Randall Wray and Scott Fullwiler
  Abstract

  Scott Fullwiler and Senior Scholar L. Randall Wray review the roles of the Federal Reserve and the Treasury in the context of quantitative easing, and find that the financial crisis…more

  Download Public Policy Brief No. 117, 2011 PDF (1.19 MB)
• Working Paper No. 665
  April 04, 2011

  Causes of Financial Instability

  Dirk Bezemer
  Abstract

  Given the economy’s complex behavior and sudden transitions as evidenced in the 2007–08 crisis, agent-based models are widely considered a promising alternative to current macroeconomic practice dominated by DSGE models….more

  Download Working Paper No. 665 PDF (393.16 KB)
• Working Paper No. 662
  March 28, 2011

  The Financial Crisis Viewed from the Perspective of the “Social Costs” Theory

  L. Randall Wray
  Abstract

  This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein…more

  Download Working Paper No. 662 PDF (169.71 KB)
• Working Paper No. 661
  March 26, 2011

  Minsky’s Money Manager Capitalism and the Global Financial Crisis

  L. Randall Wray
  Abstract

  The world’s worst economic crisis since the 1930s is now well into its third year. All sorts of explanations have been proffered for the causes of the crisis, from lax…more

  Download Working Paper No. 661 PDF (149.04 KB)
• Working Paper No. 660
  March 21, 2011

  Financial Markets

  Jörg Bibow
  Abstract

  This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes’s path-breaking insights into the role of liquidity and finance in “monetary production…more

  Download Working Paper No. 660 PDF (149.00 KB)
• Working Paper No. 659
  March 16, 2011

  Minsky Crisis

  L. Randall Wray
  Abstract

  Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky’s analysis of the economy’s transformation over the entire postwar period. The basic thesis is that the…more

  Download Working Paper No. 659 PDF (177.86 KB)
• Working Paper No. 656
  March 05, 2011

  Money in Finance

  L. Randall Wray
  Abstract

  This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in…more

  Download Working Paper No. 656 PDF (169.85 KB)
• Working Paper No. 655
  March 04, 2011

  A Minskyan Road to Financial Reform

  L. Randall Wray
  Abstract

  In the aftermath of the global financial collapse that began in 2007, governments around the world have responded with reform. The outlines of Basel III have been announced, although some…more

  Download Working Paper No. 655 PDF (203.54 KB)
• Working Paper No. 654
  March 03, 2011

  Measuring Macroprudential Risk

  Abstract

  With the Great Recession and the regulatory reform that followed, the search for reliable means to capture systemic risk and to detect macrofinancial problems has become a central concern. In…more

  Download Working Paper No. 654 PDF (494.14 KB)