Publications

202 publications found, searching for 'Financial Instability '

• Working Paper No. 567
  June 01, 2009

  Revisiting (and Connecting) Marglin-Bhaduri and Minsky

  Claudio H. Dos Santos and Antonio C. Macedo e Silva
  Abstract

  Many heterodox strands of thought share both a concern with the study of different phases or growth regimes in the history of capitalism and the use of formal short-run models…more

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• Strategic Analysis
  April 02, 2009

  A “People First” Strategy: Credit Cannot Flow When There Are No Creditworthy Borrowers or Profitable Projects

  James K. Galbraith
  Abstract

  In 1930, John Maynard Keynes wrote: “The world has been slow to realise that we are living this year in the shadow of one of the greatest economic catastrophes of…more

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• Working Paper No. 558
  April 01, 2009

  Managing the Impact of Volatility in International Capital Markets in an Uncertain World

  Jan Kregel
  Abstract

  International financial flows are the propagation mechanism for transmitting financial instability across borders; they are also the source of unsustainable external debt. Managing volatility thus requires institutions that promote domestic…more

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• Working Paper No. 555
  January 27, 2009

  Financial Stability: The Significance and Distinctiveness of Islamic Banking in Malaysia

  Ewa Karwowski
  Abstract

  This paper explores the significance of Islamic banking in Malaysia for stability in the country’s economy as a whole. Neither conventional theory nor Islamic economics puts forward a systematic explanation…more

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• Working Paper No. 554
  January 26, 2009

  Macroeconomic Imbalances in the United States and Their Impact on the International Financial System

  Julia S. Perelstein
  Abstract

  The argument put forward in this paper is twofold. First, the financial crisis of 2007–08 was made global by the current account deficit in the United States; and second, there…more

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• Strategic Analysis
  December 24, 2008

  Prospects for the United States and the World: A Crisis That Conventional Remedies Cannot Resolve

  Wynne Godley, Dimitri B. Papadimitriou, and Gennaro Zezza
  Abstract

  The economic recovery plans currently under consideration by the United States and many other countries seem to be concentrated on the possibility of using expansionary fiscal and monetary policies alone….more

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• Working Paper No. 553
  December 22, 2008

  Insuring Against Private Capital Flows

  Jörg Bibow
  Abstract

  Following an analysis of the forces behind the “global capital flows paradox” observed in the era of advancing financial globalization, this paper sets out to investigate the opportunity costs of…more

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• Strategic Analysis
  April 09, 2008

  Fiscal Stimulus—Is More Needed?

  Dimitri B. Papadimitriou and Gennaro Zezza
  Abstract

  As the government prepares to dispense the tax rebates that largely make up its recently approved $168 billion stimulus package, President Dimitri B. Papadimitriou and Research Scholars Greg Hannsgen and…more

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• Strategic Analysis
  November 30, 2007

  The US Economy: Is There a Way Out of the Woods?

  Wynne Godley, Dimitri B. Papadimitriou, and Gennaro Zezza
  Abstract

  In their latest Strategic Analysis, Distinguished Scholar Wynne Godley, President Dimitri B. Papadimitriou, and Research Scholars Greg Hannsgen and Gennaro Zezza review recent events in the housing and financial markets…more

  Download Strategic Analysis, November 2007 PDF (316.57 KB)
• Strategic Analysis
  April 30, 2007

  The US Economy: What’s Next?

  Wynne Godley, Dimitri B. Papadimitriou, and Gennaro Zezza
  Abstract

  The collapse in the subprime mortgage market, along with multiple signals of distress in the broader housing market, has already drawn forth a large body of comment. Some people think…more

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