Financial Conditions and Macroeconomic Performance

Financial Conditions and Macroeconomic Performance

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This collection of papers on financial instability and its impact on macroeconomic performance honours Hyman P. Minsky and his lifelong work. It is based on a conference at Washington University, St. Louis, in 1990 and includes among the authors Benjamin M. Friedman, Charles P. Kindleberger, Jan Kregel and Steven Fazzari. These papers consider Minsky's definitive analysis that yields such a clear and disturbing sequence of financial events: booms, government intervention to prevent debt contraction and new booms that cause a progressive buildup of new debt, eventually leaving the economy much more fragile financially.In France, as Jean Bouviera#39;s masterly account of the growth of the CrAcdit lyonnais tells us, Henri Germain started the ... The answer is that the head office of each is located in a different city (or area) than that noted in the institutiona#39;s name (1978, 67). ... Savings banks and savings and loan associations, both of which originally provided finance for home building, furnish a good example of the process.

Title:Financial Conditions and Macroeconomic Performance
Author:Steven M. Fazzari, Dimitri B. Papadimitriou
Publisher:Routledge - 2015-06-05


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