Hyman Minsky is renowned for his theoretical and empirical investigation of the capitalist economy. In this book, a distinguished group of contributors provides an authoritative account of his contribution to the analysis of capitalism and, more particularly, to the fields of monetary and post...

This paper analyzes a dynamic model with (1) an investment function that emphasizes cash flow, (2) a Keynesian macroeconomic framework that determines cash flow endogenously, (3) a dynamic labor market model that drives wage and price adjustments, and (4) boundedly rational expectations....

We study monetary policy in a reduced-form dynamic model with bounded rationality and an empirically motivated investment function. Investment has important dynamic effects in our model. In particular, the cost of capital effect on investment is more important for monetary transmission than the...

This book is primarily a critical survey of small-case, theoretical macro models that attempts to analyze the cyclical behavior of modern economies. The authors emphasize the role of the labor market, which is treated very differently in such models. They show how the development of business...

This book is based on three themes: the business cycle, re- gime switching and wages. Each term is linked to the other in a simple and direct way. The business cycle is the main topic, regime switching is a device to generate cycles, and wages is the point of view from which the analysis is...