Financial aspects: a Minskyan perspective

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Chapter 6 in Income Distribution, Growth and Unemployment, 2022, pp 73-87 from Edward Elgar Publishing

Abstract: The third growth cycle model is based upon the interaction of the distributive loop with financial variables. Since the endogeneity of supply is maintained, one can reach conclusions only by means of numerical simulations. In fact, stability results are not a smooth function of dimensionality. In this perspective, a model à la Minsky is obtained, where financial variables interact with the loops existing in the other markets. This Chapter is just a prelude to the so called Minsky's moments where runaway situations can be generated by means of speculative agents. However, at this stage of the analysis they serve the purpose of showing how the problem of debt and the interest burden can interfere with that of income distribution which assumes the nature of cash flow.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
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