Renouf Publishing Co. Ltd.
embedded image
Online Bookstore


Quick Search
Advanced search
Featured books
New in print
Best Sellers
President's picks

Shopping cart/Checkout  [0]
Sign-up for eUpdates
Minsky’s Moment
An Insider’s View on the Economics of Hyman Minsky

by Piero Ferri

Series:New Directions in Modern Economics series
ISBN 9781788973724
Publication year: 2019

Cdn: $171.50; US: $125.00
Language: English
264 pages
Add to cart
Based upon his life-long collaboration with Hyman Minsky, Piero Ferri explores and reconsiders Minsky's moments in the aftermath of the 'Great Recession' of 2008. He sets out the analytical and methodological foundations of Minsky's financial instability hypothesis, offering insightful comments from a unique insider's perspective.

This book stresses the necessity of including what has been recently discovered about Minsky's financial instability hypothesis into his lifelong research program, in order to obtain a more complete picture of both his vision and his analytical apparatus. It seeks to move beyond a discussion of Minsky's original ideas, to verify how they are capable of meeting the challenges derived from the modern evolution of the economy. Developing a meta-model based on regime switching, Piero Ferri examines how the different financial instability hypotheses can be accounted for.

Researchers and advanced students in macroeconomics and finance will greatly benefit from the exploration of how Minsky predicted the 'Great Recession', and why his work is of fundamental relevance today. Economic policy makers will also find this book to be a useful tool in discovering methodological innovations to aid further financial recovery from the 2008 economic crisis.

'Piero Ferri's book is a welcome addition to our knowledge of the work of Hy Minsky. The book is unique because it contains papers co-authored with Minsky and extends his analysis in light of institutional and methodological changes ... Ferri's book will be of great interest to both mainstream and heterodox economists.'
– Ronnie J. Phillips, Journal of Economic Issues

'This book presents interesting and original insights into Hyman Minsky's thinking based on a long and close personal relationship. It offers a variety of new developments and draws on the author's extensive knowledge of economic thinking over the past 50 years to put Minsky's work into context.'
– Steven Fazzari, Washington University in St. Louis, US

'Piero Ferri's new book offers an alternative approach to Hyman Minsky's well-known financial instability hypothesis (FIH) that is well-grounded in work on which they collaborated for over a decade. Rather than focusing on the "Minsky Moment" as so many others have done, Ferri places the FIH within Minsky's life-long research program that began with his dissertation and continued in his years at the Levy Economics Institute before his death in 1996. The FIH is presented as a particular case of Minsky's general vision of the evolution of a complex, dynamic system. While instability is natural, it is constrained by policy and institutional ceilings and floors. Building on co-authored papers with Minsky, Ferri extends the analysis, in particular by returning to and updating Minsky's early focus on the dynamics of labor markets in models that allow for more complex analysis.'
– L. Randall Wray, Levy Economics Institute, Bard College, US

'This book is a fascinating journey in search of the inner roots of the financial instability hypothesis theorized by Minsky. His towering figure assumes a convincing new light, where heterogeneity, emergency and complexity converge in the idea that credit, and not money, and private information are the links that connect present and future. The reader will recognise Minsky as a unique figure among the economists of the last century.'
– Mauro Gallegati, Polytechnic University of Marche, Italy

Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy.
Minsky’s Moment
Cdn: $171.50; US: $125.00
Edward Elgar BookID: 125783 Added: 2019.9.8