New perspectives in monetary macroeconomics1994
explorations in the tradition of Hyman P. Minsky
by Hyman P. Minsky
The defining characteristic of the monetary and financial systems of the capitalist economies since the 1960s has been persistent and fundamental change. Some indicators of this change include the patterns toward financial deregulation, historically high interest rates, and increasingly frequent and severe bouts of financial instability. The essays in this book build from the contributions of Hyman P.
Minsky, whose theories in the areas of monetary macroeconomics, unlike those of nearly all practitioners in this field, have sought to understand the processes of structural change and instabilities as inherent features of capitalist economies.
New Perspectives in Monetary Macroeconomics includes essays that explore the nature of Keynesian uncertainty and the systematic sources of financial...