Minskian Financial Instability Hypothesis and Its Post Keynesian Roots: A Theoretical Approach

Year 2019, Volume: 27 Issue: 40, 105 - 118, 30.04.2019

Ömer Tuğsal Doruk , Yusuf Can Şahintürk

https://doi.org/10.17233/sosyoekonomi.2019.02.06

Abstract

Minsky’s financial instability hypothesis (FIH) has the main assumptions of the Post Keynesian macroeconomics. The main assumptions of the FIH and its Post Keynesian roots are discussed in this paper in a detailed way. Thus, it is seen that FIH is a business cycle analysis within Post Keynesian framework, the theoretical underpinnings of the Post Keynesian macroeconomic analysis are put in the forefront for understanding business cycles in Minsky’s analysis.

Keywords

Financial Instability Hypothesis, Post Keynesian Economics, Business Cycles

Minskian Financial Instability Hypothesis and Its Post Keynesian Roots: A Theoretical Approach

Abstract

Minsky’e ait Finansal İstikrarsızlık Hipotezi (FİH), metodolojik olarak Post Keynesyen makro iktisadın ana varsayımlarını taşımaktadır. FİH’in temelinde yatan ana varsayımlar ve FİH’in Post Keynesyen kökenleri bu çalışmada etraflıca tartışılmaktadır. Dolayısıyla FİH’in Post Keynesyen çerçevede bir iş çevrimi analizi olduğu görülürken, özellikle Post Keynesyen makro iktisadi analizin temelinde yer alan varsayımların Minsky’nin analizinde iş çevrimlerinin anlaşılması açısından ön plana çıktığı görülmektedir.

Keywords

Finansal İstikrarsızlık Hipotezi, Post Keynesyen İktisat, İş Çevrimleri

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