Macroeconomics of Growth Cycles and Financial Instability Piero Ferri Professor of Economics, University of Bergamo, Italy NEW DIRECTIONS IN MODERN ECONOMICS Edward Elgar Cheltenham, UK • Northampton, MA, USA Contents Preface ...

1. Introduction -- Part I: basic concepts -- 2. Piketty's contribution -- 3. Measurement -- 4. Inequality and aggregate demand -- Part II: endogenous dynamics and instability -- 5. Aggregate demand, growth and instability -- 6. Wealth, public debt and instability -- 7. Recursive workhorses --...

In light of the recent economic crisis and in keeping with Hyman Minsky’s analysis of financial instability, this book considers the important interaction between cycles and growth, via the interplay between demand, supply and real-world financial issues. Piero Ferri presents a macroeconomic...