Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/110015
Authors: 
Caverzasi, Eugenio
Year of Publication: 
2014
Series/Report no.: 
Working Paper, Levy Economics Institute 796
Abstract: 
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.
Subjects: 
Hyman Minsky
Financial Instability Hypothesis
Jan Toporowski
Capital Market Inflation
Financialization
Financial Crisis
Subprime Mortgage Crisis
JEL: 
B2
B5
E44
G01
Document Type: 
Working Paper

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