Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/31497
Authors: 
Temoigne, Eric
Year of Publication: 
2006
Series/Report no.: 
Working papers // The Levy Economics Institute 453
Abstract: 
This is the second part of a three-part analysis of the Minskyan framework. It studies in detail the dynamics at the root of the endogenous financial weakening of capitalist economic systems. This part combines the properties presented in part I with other important concepts, such as the paradox of leverage and conventional expectations, to explain the Financial Instability Hypothesis. It is demonstrated that the signs of fragility are not always visible and that financial weakening can take many different (even though well-defined) routes. This is used to draw some conclusion about the appropriate way to test for this hypothesis and the limit of data.
Subjects: 
Post Keynesian economics
Minsky
financial fragility
JEL: 
E5
Document Type: 
Working Paper

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