Publication: Being a good empiricist: the case of financial instability
Loading...
Identifiers
Publication date
2021-12
Defense date
Authors
Advisors
Tutors
Journal Title
Journal ISSN
Volume Title
Publisher
Impact
Export
Abstract
This article examines the Austrian Theory of Business Cycles as well as Minsky’s “financial instability hypothesis” and determine to what extent their explanations of financial crises can be integrated. I conclude that despite their confronting policy implications, both theories are complementary at the theoretical level and can benefit from cross-fertilization. In particular, they trace the root of financial crises to a disturbance of intertemporal coordination, that is, real interest rates.
Description
Keywords
Feyerabend, Minsky, Macroeconomics, The Austrian Business Cycle theory, History of Economic thought, Epistemology of Economics