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A Macrodynamic Analysis of Financial Instability

In: Studies in Medium-Run Macroeconomics Growth, Fluctuations, Unemployment, Inequality and Policies

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  • Hideyuki Adachi
  • Atsushi Miyake

Abstract

The following sections are included:IntroductionInvestment and Finance of FirmsPortfolio Selection and Credit CreationThe Goods MarketThe Financial MarketThe Short-Run EquilibriumDynamic Analysis of Financial InstabilityConclusionReferences

Suggested Citation

  • Hideyuki Adachi & Atsushi Miyake, 2015. "A Macrodynamic Analysis of Financial Instability," World Scientific Book Chapters, in: Hideyuki Adachi & Tamotsu Nakamura & Yasuyuki Osumi (ed.), Studies in Medium-Run Macroeconomics Growth, Fluctuations, Unemployment, Inequality and Policies, chapter 5, pages 117-146, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814619585_0005
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    References listed on IDEAS

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    1. Eric Nasica & Alain Raybaut, 2005. "Profits, confidence, and public deficits: modeling Minsky's institutional dynamics," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 28(1), pages 136-154.
    2. Edward A. Downe, 1987. "Minsky’s Model of Financial Fragility: A Suggested Addition," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(3), pages 440-454, March.
    3. Sebastien Charles, 2008. "A Post-Keynesian Model of Accumulation with a Minskyan Financial Structure," Review of Political Economy, Taylor & Francis Journals, vol. 20(3), pages 319-331.
    4. Fazzari, Steven & Ferri, Piero & Greenberg, Edward, 2008. "Cash flow, investment, and Keynes-Minsky cycles," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 555-572, March.
    5. Tobin, James, 1982. "Money and Finance in the Macroeconomic Process," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(2), pages 171-204, May.
    6. Ryoo, Soon, 2010. "Long waves and short cycles in a model of endogenous financial fragility," Journal of Economic Behavior & Organization, Elsevier, vol. 74(3), pages 163-186, June.
    7. Chiarella, Carl & Di Guilmi, Corrado, 2011. "The financial instability hypothesis: A stochastic microfoundation framework," Journal of Economic Dynamics and Control, Elsevier, vol. 35(8), pages 1151-1171, August.
    8. Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
    9. Keen, Steve, 2013. "A monetary Minsky model of the Great Moderation and the Great Recession," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 221-235.
    10. Steve Keen, 1995. "Finance and Economic Breakdown: Modeling Minsky’s “Financial Instability Hypothesis”," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 17(4), pages 607-635, July.
    11. Toichiro Asada, 2012. "Modeling financial instability," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 9(2), pages 215-232.
    12. Domenico Delli Gatti & Mauro Gallegati, 1990. "Financial Instability, Income Distribution, and the Stock Market," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 12(3), pages 356-374, March.
    13. Sébastien Charles, 2008. "Teaching Minsky's financial instability hypothesis: a manageable suggestion," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 31(1), pages 125-138, September.
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    Cited by:

    1. Toshio Watanabe, 2020. "Financial Instability and Effects of Monetary Policy," Bulletin of Political Economy, Bulletin of Political Economy, vol. 14(1), pages 117-145, June.
    2. Toshio Watanabe, 2021. "Reconsideration of the IS–LM model and limitations of monetary policy: a Tobin–Minsky model," Evolutionary and Institutional Economics Review, Springer, vol. 18(1), pages 103-129, April.
    3. Toshio Watanabe, 2016. "Net worth ratio, bank lending and financial instability," Evolutionary and Institutional Economics Review, Springer, vol. 13(1), pages 37-56, June.

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