A.W.Mullineux and Vertus Publishing ApS, 2011. — 146 p. — ISBN 978-87-7681-885-2.The 2007-09 Global Financial Crisis was a clear demonstration of the role of bank lending in the propagation of financial crises and business cycles and a remainder that Minsky’s financial stability hypothesis, 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 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 1930s.Preface.
The Nature of the Business Cycle.
Business Cycle Theory.
The Financial Instability Hypothesis.
Towards a Theory of Dynamic Economic Development.
The Unfinished Research Agenda.
References.
