A Macrodynamic Analysis of Financial Instability

2015 ◽  
pp. 117-146 ◽  
Author(s):  
Hideyuki Adachi ◽  
Atsushi Miyake
Keyword(s):  
Financial Instability

Psychiatric remuneration systems in Europe: an overview

2011 ◽  
Vol 08 (01) ◽  
pp. 09-15
Author(s):  
D. McDaid
Keyword(s):  
Mental Health ◽  
The Netherlands ◽  
Mental Health System ◽  
Psychiatric Care ◽  
Financial Instability ◽  
Service Utilisation ◽  
Service Users ◽  
Mental Health Systems ◽  
Adequate Information ◽  
Recent Developments

SummaryNew forms of psychiatric remuneration linked to levels of activity undoubtedly will have an increasing role to play in mental health systems right across Europe. Potentially they can be more efficient and promote choice, but valid concerns have been raised about their impact on the sustainability and nature of psychiatric care. This article looks in particular at recent developments in England and the Netherlands and reflects on how remuneration mechanisms may need to develop further both to improve efficiency and quality within the context of an ever more fragmented and multi-sectoral mental health system. Any introduction of activity- based reimbursement should be introduced gradually. This should be accompanied by investment in adequate information systems to help better understand service utilisation patterns, transitional funding safeguards to reduce the risk of financial instability and incentives/ contractual measures to ensure that services strive to offer services of the highest possible quality that meet the needs of service users.

Financial Instability

2010 ◽  
Author(s):  
Vincenzo D’Apice ◽  
Giovanni Ferri
Keyword(s):  
Financial Instability

The 2000s and Beyond

2018 ◽  
Author(s):  
Jayati Ghosh
Keyword(s):  
Structural Change ◽  
International Cooperation ◽  
National Development ◽  
Development Strategies ◽  
Financial Instability ◽  
Economic Insecurity ◽  
Ecological Damage ◽  
The World ◽  
Social Tensions ◽  
Boom And Bust

The decade of the 2000s was a period of boom and bust when, despite rising prosperity in general, there was increased inequality and heightened economic insecurity for most people in the world. The Survey reports tracked both causes and outcomes, taking a broader view of development that emphasized the importance of economic processes and structural change and recognized the effects of macro imbalances and financial instability, as well as the limits posed by ecological damage and social tensions. Several concerns—and possible solutions—outlined in the Survey reports still have major contemporary relevance, including the importance of countries adopting their own national development strategies and the need for international cooperation.

Fiscal Stimulus, Fiscal Policies, and Financial Instability

2021 ◽  
Vol 55 (2) ◽  
pp. 552-558
Author(s):  
Alicia Girón ◽  
Eugenia Correa
Keyword(s):  
Financial Instability ◽  
Fiscal Policies ◽  
Fiscal Stimulus

Economic Power, Financial Instability, and the Cuomo Report

1991 ◽  
Vol 25 (2) ◽  
pp. 347-354 ◽  
Author(s):  
James Ronald Stanfield ◽  
Ronnie J. Phillips
Keyword(s):  
Economic Power ◽  
Financial Instability

scholarly journals Understanding Financial Instability: Minsky Versus the Austrians

2016 ◽  
Vol 22 (1) ◽  
Author(s):  
Ludwig Van Den Hauwe
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Critical Evaluation ◽  
Central Planning ◽  
Financial Instability ◽  
Conceptual Level ◽  
Theoretical Frameworks ◽  
Historical Experience ◽  
The Global Financial Crisis ◽  
Cross Fertilization

AbstractAlthough Minsky’s interpretation of Keynes’s macroeconomics and essential message clashes with authoritative alternative interpretations, it has become increasingly influential during the years following the Global Financial Crisis, even in mainstream circles. This paper offers a critical evaluation of Minsky’s Financial Instability Hypothesis from the perspective of the alternative Austro-Wicksellian paradigm. Although some of the similarities and/or analogies between Minsky’s approach and that of the Austrian School suggest a more than merely superficial affinity between the two theoretical frameworks and although some scope for cross-fertilization between both approaches can be found, both theoretically and empirically, at a fundamental conceptual level both theories remain incompatible and difficult if not impossible to reconcile, in particular in terms of fundamental causality and in terms of policy conclusions and prescriptions. Despite the fact that Minsky’s policy conclusions are multifaceted and somewhat eclectic, they manifest a lack of familiarity with the conclusions of the Austrian analysis of the problems of central planning by Big Players such as Big Bank and Big Government. Both approaches also offer contrasting interpretations of the historical experience of the Global Financial Crisis.

An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime

2018 ◽  
Vol 78 (2) ◽  
pp. 319-357 ◽  
Author(s):  
Michael D. Bordo
Keyword(s):  
Monetary Policy ◽  
Financial Crises ◽  
Financial Stability ◽  
Historical Perspective ◽  
Asset Price ◽  
Financial Instability ◽  
Historical Evidence ◽  
Policy Regime ◽  
Extreme Form ◽  
Credit Booms

This article surveys the co-evolution of monetary policy and financial stability for a number of countries from 1880 to the present. Historical evidence on the incidence, costs, and determinants of financial crises (the most extreme form of financial instability), combined with narratives on some famous financial crises, suggests that financial crises have many causes, including credit-driven asset price booms, which have become more prevalent in recent decades, but in general financial crises are very heterogeneous and hard to categorize. Moreover, evidence shows that the association across the country sample between credit booms, asset price booms, and serious financial crises is quite weak.

Following momentum and avoiding the “Minsky Moment” evidence from investors on the Financial Instability Hypothesis

2016 ◽  
Vol 8 (3) ◽  
pp. 205-217 ◽  
Author(s):  
Scott Pirie ◽  
Ronald King To Chan
Keyword(s):  
Investment Decisions ◽  
Practical Experience ◽  
Financial Instability ◽  
Investment Strategies ◽  
Momentum Strategies ◽  
Content Type ◽  
Hyman Minsky ◽  
Quantitative Studies ◽  
Regional Markets ◽  
Unstable States

Purpose This study aims to find out how institutional investors use momentum in making investment decisions, and whether their actions are consistent with the Financial Instability Hypothesis of Hyman Minsky. Design/methodology/approach The study discusses the findings of interviews with 25 professional investors from the Hong Kong offices of five global financial institutions. All of the participants have several years of practical experience in global and regional markets. Findings Nearly all the managers interviewed said they use momentum in making investment decisions, and they do this in ways that are consistent with the Financial Instability Hypothesis, in which markets alternate between stable and unstable states. The participants are aware they may contribute to this, but they cannot avoid doing it because of short-term constraints in the present financial system. Originality/value This study adds to our knowledge of how professional investors use momentum in their investment strategies. It complements findings of quantitative studies that show momentum strategies have been profitable in many market settings. It also adds evidence that supports the Financial Instability Hypothesis.

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