Minsky's Financial Fragility Hypothesis: a Missing Macroeconomic Link?

Marc Lavoie and Mario Seccareccia ()

Working Papers from University of Ottawa, Department of Economics

Abstract: The paper examines an important contribution of Hyman P. Minsky to Post-Keynesian economic analysis: his financial fragility hypothesis. Because of its lack of Keynesian macroeconomic foundation, the authors show how his famous hypothesis is built on a rather faulty theoretical analysis. Moreover, by studying data from Canada and other OECD countries, the paper also seeks to demonstrate why Minsky hypothesis is based on a shaky empirical one.

Keywords: MONEY; FINANCIAL MARKET; CANADA (search for similar items in EconPapers)
JEL-codes: E12 E42 E52 (search for similar items in EconPapers)
Pages: 28 pages
Date: 1999
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Citations: View citations in EconPapers (10)

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Chapter: Minsky's financial fragility hypothesis: a missing macroeconomic link? (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:ott:wpaper:9904e

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