Minsky and dynamic macroprudential regulation

Jan Kregel

PSL Quarterly Review, 2014, vol. 67, issue 269, 217-238

Abstract: In the context of current debates about the proper form of prudential regulation and proposals for the imposition of liquidity and capital ratios, the paper examines Hyman Minsky’s work as a consultant to government agencies exploring financial regulatory reform in the 1960s. As the author explains, this often-overlooked early work, a precursor to Minsky’s “financial instability hypothesis†, serves as yet another useful guide to explaining why regulation and supervision in the lead-up to the 2008 financial crisis were flawed, and why the approach to reregulation after the crisis has been incomplete.

Keywords: Banking supervision; Macroprudential Regulation; Financial instability hypothesis (FIH) (search for similar items in EconPapers)
JEL-codes: G01 G21 G28 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (12)

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Working Paper: Minsky and Dynamic Macroprudential Regulation (2014)
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