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  1. The boom-bust cycle in Finland and Sweden 1984-1995 in an international perspective
    Author: Jonung, Lars; Schuknecht, Ludger; Tujula, Mika
    Published: 2006
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    RVK Categories: QM 430 ; QM 420
    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2006,13
    Subjects: Konjunktur; Vergleich; :z Geschichte 1984-1995; :z Geschichte 1970-2002; Finnland; Schweden; Boom; Bankrott; Wirtschaftskrise; Haushaltsdefizit; Realzins; Effektivverzinsung; Geschichte 1984-1995
    Other subjects: (stw)1970-2002; (stw)Konjunktur; (stw)Vergleich; (stw)Finnland; (stw)Schweden; (stw)Industrieländer; Boom; Bust; Asset Price Cycles; Real Interest Rates; Financial Crisis; Finland; Sweden; Amtsdruckschrift; Graue Literatur
    Scope: Online-Ressource
  2. A macroeconometric assessment of Minsky's Financial Instability Hpothesis
    Author: Greenwood-Nimmo, Matthew; Tarassow, Artur
    Published: 2013
    Publisher:  Univ., Dep. Socioeconomics, Hamburg

    The Financial Instability Hypothesis associated with Hyman Minsky has profound implications for the conduct of monetary policy in modern capitalist economies. At its core is the proposition that the central bank may contribute to the financial... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 482 (2013,6)
    Inter-library loan:
    No inter-library loan

     

    The Financial Instability Hypothesis associated with Hyman Minsky has profound implications for the conduct of monetary policy in modern capitalist economies. At its core is the proposition that the central bank may contribute to the financial fragility of leveraged firms in its pursuit of inflation-targeting interest rate policies. This paper develops a small macroeconomic model incorporating many of the salient features of a Minskyan economy. The imposition of the resulting theoretical restrictions in a CVAR model provides support for Minsky's main proposition that interest rate innovations can drive a wedge between the cash-inflows of firms and their debt-servicing obligations. The paper concludes that the implementation of countercyclical capital requirements can provide monetary policymakers with additional policy instruments that can be used to cool overheated sectors without recourse to the "blunt instrument" of interest rate policy.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/103164
    Series: DEP (socioeconomics) discussion papers ; 6/2013
    Subjects: Monetary Policy; Inflation Targeting; Financial Instability Hypothesis; Cointegrating VAR; Asset Price Cycles
    Scope: Online-Ressource (32 S.), graph. Darst.