This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives.That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...

This paper aims to help bridge the gap between theory and fact regarding the so-called “Minsky moments” by revisiting the “financial instability hypothesis” (FIH). We limit the analysis to the core of FIH—that is, to its strictly financial part. Our contribution builds on a...

The recent revival of Hyman P. Minsky’s ideas among policymakers, economists, bankers, financial institutions, and the mass media, synchronized with the increasing gravity of the subprime financial crisis, demands a reappraisal of the meaning and scope of the “financial instability...

The global financial crisis of 2007–2008, consequences of which continue to adversely affect the world economy, is often called a «Minsky crisis». A prominent American economist Hyman Philip Minsky studied capitalist economic system paying special attention to its major properties, in...

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives. That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...

Interest rate swaps are an actively traded product in the financial marketplace and are popular for hedging mortgage and corporate loan exposures against rises in interest rates. Asset swaps on the other hand provide a form of asset financing, where investors borrow funds to purchase an asset,...

This is the seventh in a series of seven papers on interest rates and it covers the Wicksell hypothesis, the general interpretation of it, an alternative interpretation, how the alternative interpretation is reconciled with the general interpretation, and its fit with the Taylor rule. A...

This is the fifth in a series of seven papers on interest rates and it covers the monetary policy models, a bank liquidity analysis, the concept of quantitative easing in terms of a bank liquidity analysis, and how a QE policy affects interest rates. The seven papers cover: (1) what are interest...

A Tenor Basis Swap, also known as a floating-floating interest rate swap, is a financial instrument whereby floating cashflows from two different interest rates are exchanged, typically floating interest rates determined from benchmark Libor indices of the same currency are exchanged e.g. 3M...

This paper examines relevancy of corporate financial policies and documents similarities and/or differences of how profit maximization goal is viewed by Islamic banking institutions (IBIs). Management of the firm is ultimately responsible for maximizing profits and increasing shareholder value,...