Induced Investment and Business Cycles Hyman P. Minsky

ISBN: 9781843762164

Published: February 8th 2005

Hardcover

272 pages


Description

Induced Investment and Business Cycles  by  Hyman P. Minsky

Induced Investment and Business Cycles by Hyman P. Minsky
February 8th 2005 | Hardcover | PDF, EPUB, FB2, DjVu, AUDIO, mp3, ZIP | 272 pages | ISBN: 9781843762164 | 3.21 Mb

This unique volume presents, for the first time in publication, the original Ph.D. thesis of Hyman P. Minsky, one of the most innovative thinkers on financial markets. Dimitri B. Papadimitrious introduction places the thesis in a modern context, andMoreThis unique volume presents, for the first time in publication, the original Ph.D. thesis of Hyman P. Minsky, one of the most innovative thinkers on financial markets.

Dimitri B. Papadimitrious introduction places the thesis in a modern context, and explains its relevance today. The thesis explores the relationship between induced investment, the constraints of financing investment, market structure, and the determinants of aggregate demand and business cycle performance.

Forming the basis of his subsequent development of financial Keynesianism and his Wall Street paradigm, Hyman Minsky investigates the relevance of the accelerator-multiplier models of investment to individual firm behaviour in undertaking investment dependent on cost structure. Uncertainty, the coexistence of other market structures, and the behaviour of the monetary system are also explored.

of the accelerator models frequently used, the book addresses their limitations and inapplicability to real world situations where the effect of financing conditions on the balance sheet structures of individual firms plays a crucial and determining role for further investment. Finally, Hyman Minsky discusses his findings on business cycle theory and economic policy. This book will greatly appeal to advanced undergraduate and graduate students in economics, as well as to policymakers and researchers. In addition, it will prove to be valuable supplementary reading for those with an interest in advanced microeconomics.



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