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Preventing Financial Crises: A Vital Yet Frequently Overlooked Aspect of Minsky's Economics

机译:防止金融危机:米斯基经济学的一个至关重要的又经常被忽视的方面

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摘要

Periods of financial instability are always an opportunity for Hyman P. Minsky to return to the spotlight. Often, they result in an increase in the number of references made to Minsky's work, otherwise relegated to the margins of academic debate. For the most part, this work involving Minsky is limited to demonstrating the relevance of the Financial Instability Hypothesis in explaining the mechanisms of financial fragility or the need to implement countercyclical measures during the acute phase of the crisis. In my view, such a use of Minsky's work is incomplete because it fails to take into account an equally important aspect of it: that which relates to the prevention of financial crises.
机译:金融不稳定的时期始终是Hyman P. Minsky返回聚光灯的机会。通常,它们导致对Minsky的工作的参考数增加,否则降级到学术辩论的边缘。在大多数情况下,涉及MINSKY的工作仅限于展示金融不稳定假设的相关性,以解释金融脆弱性或在危机急性期内实施反周期措施的必要性。在我看来,这种使用Minsky的工作是不完整的,因为它未能考虑到它的同样重要方面:与预防金融危机有关。

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