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financial crises and business cycles and a reminder that Minsky’s financial stability hypothesis, discussed in Chapter 3,
had also been reglected, but remained highly relevant to modern banking systems. Indeed the onset of the GFC has been
described as a ‘Minsky moment’ when the euphoria of the credit and house price bubbles in the US and elsewhere, turned
to ‘revulsion’ and panic, resulting in a major recession.
This second edition revisits the topic of the role of the banking system in generating financial crises and business cycles
in the light of the biggest financial crisis since the 1930s.
business-cycles-and-financial-crises.pdf
(2.15 MB, 需要: 2 个论坛币)
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