Research Topics

Publications on Capital market inflation

There is 1 publication for Capital market inflation.
  • Minsky and the Subprime Mortgage Crisis

    Working Paper No. 796 | April 2014
    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.

    Associated Program:
    Eugenio Caverzasi

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