scholarly journals Forecasting a Cyclical Downturn (Recession) in the US Economy Using a Mathematical Model of Hyman Minsky’s Theory of Financial Instability

2020 ◽  
Vol 102 (2) ◽  
pp. 422-426
Author(s):  
A. A. Akaev ◽  
V. A. Sadovnichii
Keyword(s):  
Mathematical Model ◽  
Financial Instability ◽  
Us Economy ◽  
The Us

Firms’ leverage ratio and the Financial Instability Hypothesis: an empirical investigation for the US economy (1970–2014)

2019 ◽  
Vol 43 (6) ◽  
pp. 1499-1523 ◽  
Author(s):  
Ítalo Pedrosa
Keyword(s):  
Empirical Investigation ◽  
Financial Fragility ◽  
Financial Instability ◽  
Positive Relation ◽  
Firm Level ◽  
Leverage Ratio ◽  
Us Economy ◽  
General Outcome ◽  
The Us

Abstract ‘There are many ‘Minskian’ interpretations of how financial fragility builds up reflecting the unsolved tensions regarding the transition from micro to macro results in Minsky’s Financial Instability Hypothesis (FIH).’ Using firm-level and macroeconomic data to comply with the variety of FIH’s interpretations, we empirically assess the relations between leverage and financial fragility in the US economy (1970–2014). To evaluate firms’ financial fragility, we deploy Minsky’s scale—from the financially sounder to the more fragile firms: hedge, speculative and Ponzi. The main findings are the following: (i) the evolution of the aggregate leverage ratio does not account for the systemic financial fragility, measured by the frequency of speculative and Ponzi firms, and (ii) within the biggest firms, the leverage has increased along with the incidence of hedge financing, and for the smallest firms group the opposite has happened. We conclude that a positive relation between leverage and financial fragility cannot be deemed to be a general outcome.

Military Subsidization of Human Capital and Gender Stratification in the US Economy

2021 ◽  
pp. 048661342098262
Author(s):  
Tyler Saxon
Keyword(s):  
Human Capital ◽  
The United States ◽  
Jel Classification ◽  
Access To Higher Education ◽  
Gender Stratification ◽  
Us Economy ◽  
The Us ◽  
And Gender ◽  
Capital Development ◽  
The Military

In the United States, the military is the primary channel through which many are able to obtain supports traditionally provided by the welfare state, such as access to higher education, job training, employment, health care, and so on. However, due to the nature of the military as a highly gendered institution, these social welfare functions are not as accessible for women as they are for men. This amounts to a highly gender-biased state spending pattern that subsidizes substantially more human capital development for men than for women, effectively reinforcing women’s subordinate status in the US economy. JEL classification: B54, B52, Z13

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