Technology Shocks and Predictable Minsky Cycles

Gregory Phelan, Jean-Paul L’Huillier and Hunter Wieman

No 23-06, Working Papers from Office of Financial Research, US Department of the Treasury

Abstract: This paper offers an economical and internally consistent model to rationalize macrofinancial boom-bust cycles. The authors present a simple model that can clarify the interaction of optimism with capital reallocation and demonstrate how this interaction can generate predictable boom-bust financial cycles. This clarification enhances our understanding of the channels through which credit markets could threaten financial stability (Working Paper no. 23-06).

Date: 2023-06-12
New Economics Papers: this item is included in nep-pke
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Related works:
Journal Article: Technology Shocks and Predictable Minsky Cycles (2024)
Working Paper: Technology Shocks and Predictable Minsky Cycles (2021)
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