A reconsideration of the formal Minskyan analysis: Microfoundations, endogenous money and the public sector

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Global analysis of dynamic models in economics and finance: Essays in honour of Laura Gardini, 2013, 1, pp. 63 - 81
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The paper presents a survey of the literature that has grown out of the work of Hyman Minsky and, in particular, of the main models which have mathematically formalised the cyclical dynamics of a capitalist economy implied by the Financial Instability Hypothesis. We identify some of the issues that the existing literature has left unsolved. We then briefly summarise the contributions by Chiarella and Di Guilmi (J Econ Dyn Control 35(8):11511171, 2011c) and (Stud Nonl Dyn Econom forthcoming, 2012), highlighting how these papers have addressed the open questions and how they could be further developed.
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