The Minskyan System, Part I Properties of the Minskyan Analysis and How to Theorize and Model a Monetary Production Economy

58 Pages Posted: 6 Jun 2006

Date Written: June 2006

Abstract

This is the first part of a three-part analysis of the Minskyan framework. Via an extensive review of the literature, this paper looks at 12 essential elements necessary to get a good understanding of Minsky's theory, and argues that those elements are central to comprehend how a monetary production economy works. This paper also shows how important these 12 elements are for the modeling of the Minskyan framework, and how the omission of one of them may be detrimental to an understanding of the essential dynamics that Minsky put forward: the Financial Instability Hypothesis.

Keywords: Post-Keynesian economics, Minsky, financial fragility

JEL Classification: E5

Suggested Citation

Tymoigne, Eric, The Minskyan System, Part I Properties of the Minskyan Analysis and How to Theorize and Model a Monetary Production Economy (June 2006). Available at SSRN: https://ssrn.com/abstract=906144 or http://dx.doi.org/10.2139/ssrn.906144

Eric Tymoigne (Contact Author)

Lewis & Clark College ( email )

0615 SW Palatine Hill Road
Portland, OR 97204
United States

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