Skepticism About Minsky's Financial Instability Hypothesis: A Comment on Flanders

Skepticism About Minsky's Financial Instability Hypothesis: A Comment on Flanders

June Flanders (2015) provides a useful introduction to Hyman Minsky's views on banking and macroeconomics. Minsky's "financial instability hypothesis" (FIH) basically says that debt-based intermediation does not enable intertemporal equilibrium but rather self-generates boom and...

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Veröffentlicht in:Econ journal watch 2015-01, Vol.12 (1), p.106
1. Verfasser: White, Lawrence H
Format: Artikel
Sprache:eng
Schlagworte:
Banking industry
Capital assets
Central banks
Checking accounts
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Digital archives
Equilibrium
Financial performance
Hypotheses
Hypothesis testing
Institutionalism
Interest rates
Loans
Macroeconomics
Quantity theory of money
Supply & demand
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Zusammenfassung:June Flanders (2015) provides a useful introduction to Hyman Minsky's views on banking and macroeconomics. Minsky's "financial instability hypothesis" (FIH) basically says that debt-based intermediation does not enable intertemporal equilibrium but rather self-generates boom and bust even in the absence of government intervention. The theory and history of banking cast doubt on the FIH.
ISSN:1933-527X