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Options for China in a dollar standard world : a sovereign currency approach

Wray, L. Randall; Liu, Xinhua - 2014

This paper examines the fiscal and monetary policy options available to China as a sovereign currency-issuing nation operating in a dollar standard world. We first summarize a number of issues facing China, including the possibility of slower growth, global imbalances, and a number of domestic...

Persistent link: https://www.econbiz.de/10010228185

The 1966 financial crisis : a case of Minskian instability?

Wray, L. Randall - 1998

Persistent link: https://www.econbiz.de/10000168264

The euro crisis and the job guarantee : a proposal for Ireland

Wray, L. Randall - 2012

Ireland had given up ist own currency in favor of what is essentially a foreign currency - the euro, which is issued by the … European Central Bank (ECB). Every euro issued in Ireland is ultimately convertible, one to one, to an ECB euro. There is … neither the possibility of depreciating the Irish euro nor the possibility of creating ECB euros as necessary to meet demands …

Persistent link: https://www.econbiz.de/10009490197

Financing the capital development of the economy : a Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, L. Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Persistent link: https://www.econbiz.de/10010517057

Financing the capital development of the economy : a Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, L. Randall - 2015

Persistent link: https://www.econbiz.de/10010530034

Minsky on banking : early work on endogenous money and the prudent banker

Wray, L. Randall - 2015

In this paper, I examine whether Hyman P. Minsky adopted an endogenous money approach in his early work - at the time that he was first developing his financial instability approach. In an earlier piece (Wray 1992), I closely examined Minsky's published writings to support the argument that,...

Persistent link: https://www.econbiz.de/10010462515

Financial markets meltdown : what can we learn from Minsky?

Wray, L. Randall (contributor) - 2008

In this new Public Policy Brief, Senior Scholar L. Randall Wray explains today's complex and fragile financial system, and how the seeds of crisis were sown by lax oversight, deregulation, and risky innovations such as securitization. He estimates that the combined losses throughout the entire...

Persistent link: https://www.econbiz.de/10003811604

Money manager capitalism and the global financial crisis

Wray, L. Randall - 2009

This paper applies Hyman Minsky’s approach to provide an analysis of the causes of the global financial crisis. Rather than finding the origins in recent developments, this paper links the crisis to the long-term transformation of the economy from a robust financial structure in the 1950s to...

Persistent link: https://www.econbiz.de/10003943049

An alternative view of finance, saving, deficits, and liquidity

Wray, L. Randall - 2009

This paper contrasts the orthodox approach with an alternative view on finance, saving, deficits, and liquidity. The conventional view on the cause of the current global financial crisis points first to excessive United States trade deficits that are supposed to have “soaked up” global...

Persistent link: https://www.econbiz.de/10003943083

The global financial crisis and the shift to shadow banking

Nersisyan, Yeva - 2010

While most economists agree that the world is facing the worst economic crisis since the Great Depression, there is little agreement as to what caused it. Some have argued that the financial instability we are witnessing is due to irrational exuberance of market participants, fraud, greed, too...

Persistent link: https://www.econbiz.de/10003943150