DOCSLIB.ORG

248 HYMAN P. MINSKY COLLECTION: FOLDER LIST the Levy Economics Institute of Bard College Bruce Macmillan, Project Archivist March 2009

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
248 HYMAN P. MINSKY COLLECTION: FOLDER LIST the Levy Economics Institute of Bard College Bruce Macmillan, Project Archivist March 2009 248 HYMAN P. MINSKY COLLECTION: FOLDER LIST The Levy Economics Institute of Bard College Bruce MacMillan, Project Archivist March 2009 Pages Location/Contents BOX 27: Documents/Publications FOLDER: 21 *Jacob Viner. (University of Chicago, Chicago, Il), “Mr. Keynes On The Causes Of Unemployment”, pp. 147-167, The Quarterly Journal Of Economics, Vol. 51, No. 1., Nov. 1936. 24 *Dennis H. Robinson (Trinity College, Cambridge, England), “Some Notes on Mr. Keynes’ General Theory of Employment”, pp. 168-191, The Quarterly Journal Of Economics, Vol. 51, No. 1., Nov. 1936. 6 *Wassily W. Leontief (Harvard University, Boston, Ma), “The Fundamental Assumption of Mr. Keynes’ Monetary Theory of Unemployment”, pp. 192-197, The Quarterly Journal Of Economics, Vol. 51, No. 1., Nov. 1936. [2 copies] 6 *F.W. Taussig (Harvard University, Boston, Ma), “Employment and the National Dividend”, pp. 198-203, The Quarterly Journal Of Economics, Vol. 51, No. 1., Nov. 1936. [*Note by Bruce MacMillan 3.13.08: These four articles are in reference to: John Maynard Keynes. The General Theory of Unemployment, Interest and Money. London, England: MacMillan and Co., 1936.] 17 FOLDER: Hyman P. Minsky, “Stabilizing an Unstable Economy: The Lessons for Industry, Finance and Government”, pp. 31-44, in Karl Aiginger (Osterreichisches Institut fur Wirtschaftsforschung). Weltwirtschaft Und Unternehmerische Strategien: Wirtschaftspolitik Im Spannungsfeld Zum Innovationsprozess. (Global Economy And Entrepreneurial Strategies: World Economy In The Economic Field To The Innovation Process…) Stuttgart, Germany: G. Fischer; Wien, Austria: Osterreichische Investitionskredit Aktiengesellschaft: Osterreichisches Institut fur Wirtschaftsforschung, ©1986. [1 original tear-out, 11 copies] 4 FOLDER: Conference brochure. Hyman P. Minsky. “Stabilizing an Unstable Economy: The Lessons From Keynesianism and Reaganomics for Industry, Finance and Government”. Symposium: Weltwirtschaft Und Unternehmerische Strategien (Global Economy and Entrepreneurial Strategies). Hotel Hilton International Wien, Wien, Osterreich (Vienna, Austria). Donnerstag (Thursday), 9 Janner 1986. 8 FOLDER: Hyman P. Minsky. Book Reviews: Xenephon Zolotas. Monetary Equilibrium and Economic Development. Princeton, NJ: Princeton University Press, 1965, pp. 146-148, The National Banking Review, (Undated). [1 original (4 pages), 2 copies of typed manuscript (6 pages)] [Note by Bruce MacMillan 8.6.04: The author Xenephon Zolotas was the then Governor of the Bank of Greece] 223 FOLDER: Xenephon Zolotas. Monetary Equilibrium and Economic Development, With Special Reference To The Experience Of Greece, 1950- 1963. Princeton, NJ: Princeton University Press, 1965. [1 original copy of book] [Note by Bruce MacMillan 2.4.09: Prof. Minsky has made notations throughout the book and on the back cover.] 248 249 HYMAN P. MINSKY COLLECTION: FOLDER LIST The Levy Economics Institute of Bard College Bruce MacMillan, Project Archivist March 2009 19 FOLDER: Hyman P. Minsky (Prof. of Economics, Washington University, St. Louis), “Chapter 31: Adequate Aggregate Demand and the Commitment to End Poverty”, pp. 562-580, Rural Poverty in the United States: A Report by the President’s National Advisory Commission on Rural Poverty. Washington, DC: USGPO, May 1968. [2 copies of Chapter 31] 19 FOLDER: Hyman P. Minsky (Prof. of Economics, Washington University, St. Louis), “Chapter 31: Adequate Aggregate Demand and the Commitment to End Poverty”, pp. 562-580, Rural Poverty in the United States: A Report by the President’s National Advisory Commission on Rural Poverty. Washington, DC: USGPO, May 1968. [1 original hardcover copy of complete report] 4 FOLDER: Hyman P. Minsky, “III. Interviste sul pensiero di Keynes (Interviews on the thoughts of Keynes). 3. Intervista a Hyman P. Minsky” (Interview with Hyman P. Minsky), pp. 40-43, Keynes: A Un Secolo Dalla Nascita: a Cura di Alessandro Roncaglia (Keynes: On the Centenary of His Birth. By Alexander Roncaglia). Milan, Italy: Banca Popolare dell'Etruria, Studi e Ricerche. Conference publication. 1984. [1 original publication] 4 FOLDER: Franco Angeli, Ed. Studi Economici: A Cura Della Facolta di Economia e Commercio dell’Universita di Napoli, Vol. 38, N.S., No. 21, 1983. Printed Sept. 1984. [1 original publication] [Note by Bruce MacMillan 2.4.09: There are references to Hyman P. Minsky on pages 4 and 5. There is an interesting section on “The Rise and Fall of the Monetary Economy in Antiquity - The Example of the Roman Empire”, pp. 25-28.] 14 FOLDER: The Eds., “Review of the Month: Keynesianism: Illusions and Delusions”, pp. 1-12, Monthly Review: An Independent Socialist Magazine. Vol. 28. April 1977. [1 copy] [Note by Bruce MacMillan 1.21.09: This article is in reference to: Richard Ruggles, “Economic Growth in the Short Run: Its Behavior and Measurement”, in Joint Economic Committee, Congress of the United States, U.S. Economic Growth From 1976 to 1986: Prospects, Problems and Patterns, Vol.2. Washington, DC: USGPO, Nov. 10, 1976, p. 1. 20 FOLDER: M.I. Townsend (Esmee Fairbairn Research Fellow in Economics, The New University of Ulster). Portfolio Approaches and Money to Income Linkages in Modern Monetary Theory. Nov. 12, 1971. [Original typed manuscript] [“…Minsky (8, p. 72) has remarked that even modern Keynesians may claim the same degree of similarity…”, p. 2.] [(8) H. Minsky, ‘Comment’, Review of Economics and Statistics, Feb. 1963, Supplement; reproduced in The State of Monetary Economics, 1963, National Bureau of Economic Research (NBER)”, p. 17] [Note by Bruce MacMillan 1.21.09: Inscription on page: “Hy, With best wishes. Maurice. Revised.”] 15 FOLDER: M.I. Townsend (Esmee Fairbairn Research Fellow in Economics, The New University of Ulster). Monetary Theory: A Perspective. (Undated, c. 1971). [Original typed manuscript] [Note by Bruce MacMillan 1.21.09: Inscription on page: “Hy, With best wishes. Maurice.”] 249 250 HYMAN P. MINSKY COLLECTION: FOLDER LIST The Levy Economics Institute of Bard College Bruce MacMillan, Project Archivist March 2009 11 FOLDER: M.I. Townsend (Esmee Fairbairn Research Fellow in Economics, The New University of Ulster). Liquidity Preference, Risk, and a Wealth Effect. The Treasury Bill Market; A Comment. Debt Management in the U.K.: A Comment. First draft 1969-1970. [Original typed manuscript] [Note by Bruce MacMillan 1.22.09: Inscription on page: “Hy, With best wishes. Maurice.”] 8 FOLDER: E. Malinvaud. The Relevance of Demand Analysis Today. Discussion of W. Godley’s ‘Keynes and the Management of Real National Income and Expenditure’. (Undated, c, 1982) [1 typed copy] 11 FOLDER: A.W. Phillips, “A Simple Model of Employment, Money and Prices in a Growing Economy”, pp. 360-370, Economica, Nov. 1961. [1 copy] 40 FOLDER: Milton Friedman and L.J. Savage, “The Utility Analysis of Choices Involving Risk”, pp. 57-96, in John S. Chipman et. al., Ed. Preferences, Utility, and Demand; A Minnesota Symposium. New York, NY: Harcourt Brace Jovanovich, 1971. [1 copy] 26 FOLDER: Peter O. Steiner, “Peak Loads and Efficient Pricing”, pp. 585-610, Quarterly Journal of Economics, Vol. LXXI, No. 4, Nov. 1957. [1 copy] 38 FOLDER: Francis M. Bator, “The Simple Analytics of Welfare Maximization”, pp. 22-59, The American Economic Review, Vol. 47, No. 1, March 1957. [1 copy] 37 FOLDER: Francis M. Bator, “The Anatomy of Market Failure”, pp. 351-379, The Quarterly Journal of Economics, Vol. 72, No. 3, Aug. 1958. [1 copy] 16 FOLDER: James G. Witte, Jr. (Indiana University), pp. 441-456, “The Microfoundations of the Social Investment Function”, The Journal of Political Economy, Vol. 71, No. 5, Oct., 1963. [1 copy] FOLDER: 26 Joan Robinson, “The Production Function and The Theory of Capital”, Review of Economic Studies, Vol. XXI, 1953, pp. 81-106. [1 copy] 5 Unknown author, “The Value of Invested Capital: A Mathematical Addendum to Mrs. Robinson’s Article”, Review of Economic Studies, Vol. XXI, 1953, pp. 107-111. [1 copy] 24 D.K. Champernowne and R.F. Kahn, “The Value of Invested Capital: A Mathematical Addendum to Mrs. Robinson’s Article”, Review of Economic Studies, Vol. XXI, 1953, pp. 107-111. [1 copy] 250 251 HYMAN P. MINSKY COLLECTION: FOLDER LIST The Levy Economics Institute of Bard College Bruce MacMillan, Project Archivist March 2009 22 D.K. Champernowne, “The Production Function and The Theory of Capital: A Comment”, Review of Economic Studies, Vol. XXI, 1953, pp. 112-135. [1 copy] 15 FOLDER: James Tobin (Sterling Prof. of Economics, Yale University, New Haven, Ct.), “ A General Equilibrium Approach to Monetary Theory”, pp. 15-29, Journal of Money, Credit and Banking, Vol. 1, No. 1, Feb. 1969. 11 FOLDER: James Tobin (Yale University, New Haven, Ct.). Monetary Policies and the Economy: The Transmission Mechanism. Invited address, Southern Economic Assoc. Meetings, Atlanta, Ga., Oct. 18, 1976. [1 copy] 24 FOLDER: Paul Davidson (Prof. of Economics, Rutgers Univ., New Brunswick, NJ), “Why Money Matters: Lessons From a Half-Century of Monetary Theory”, Journal of Post Keynesian Economics, fall 1978. An earlier version of this paper was presented at the Fiftieth Anniversary of the Central Bank of Ecuador, Quito, Ecuador. [1 copy] 14 FOLDER: H. Peter Gray (Assist. Prof. of Economics, Wayne State Univ., Detroit, Mi.), “Bank Regulation, Bank Profitability and Federal Reserve Membership”, The National Banking Review, I, Dec. 1963, pp. 207-220. [1 original reprint] 13 FOLDER: H. Peter Gray (Assist. Prof. of Economics, Wayne State Univ., Detroit, Mi). Some Evidence On Two Implications Of Higher Interest- Rates On Time Deposits. Reprinted from pp. 63-75, The Journal of Finance, Vol. XIX, No. 1, March 1964. [1 original reprint] 16 FOLDER: George W. Mitchell (Member, Board of Governors of the FRS). Monetary Tools and Capabilities. Remarks of George W. Mitchell, Member, Board of Governors of the FRS, Before the Missouri Economics Assoc., Columbia, Mo. Nov. 19, 1965. [1 copy] 13 FOLDER: Charles P. Kindleberger, “The 1930s and the 1980s: Parallels and Differences”, Banca Nazionale Del Lavoro Quarterly Review, No. 165, June 1988. Rome, Italy: Banca Nazionale Del Lavoro. Revised version of a paper read to the Anniversary (Fiftieth) Conference of the Islandic Economic Assoc., March 11, 1988. [1 copy].
Load more

Recommended publications
  • Why Minsky Matters: an Introduction to the Work of a Maverick Economist
    Introduction Stability— even of an expansion— is destabilizing in that the more adventuresome financing of investment pays off to the leaders and others follow. —Minsky, 1975, p. 125 1 There is no final solution to the problems of organizing economic life. —Minsky, 1975, p. 168 2 Why does the work of Hyman P. Minsky matter? Because he saw “it” (the Global Financial Crisis, or GFC) coming. Indeed, when the crisis first hit, many of those familiar with his work (and even some who knew little about it) proclaimed it a “Min- sky crisis.” That alone should spark interest in his work. The queen of England famously asked her economic advi- sors why none of them had seen it coming. Obviously the an- swer is complex, but it must include reference to the evolution of macro economic theory over the postwar period— from the “Age of Keynes,” through the rise of Milton Friedman’s monetarism and the return of neoclassical economics in the particularly ex- treme form developed by Robert Lucas, and finally on to the new monetary consensus adopted by Chairman Bernanke on the precipice of the crisis. The story cannot leave out the paral- lel developments in finance theory— with its “efficient markets 2 ■ Introduction hypothesis”— and the “hands- off” approach to regulation and supervision of financial institutions. What passed for macroeconomics on the verge of the global financial collapse had little to do with reality. The world modeled by mainstream economics bore no relation to our economy. It was based on rational expectations in which everyone bets right, at least within a random error, and maximizes anything and every- thing while living in a world without financial institutions.
    [Show full text]
  • Rebirth of Industrial Policy and an Agenda for the 21St Century
    QUERDENKERPLATTFORM: WIEN – EUROPA www.querdenkereuropa.at Mimeo 1/2019 – November 2019 REBIRTH OF INDUSTRIAL POLICY AND AN AGENDA FOR THE 21ST CENTURY KARL AIGINGER1 AND DANI RODRIK2 THE REBIRTH OF INDUSTRIAL POLICY: REASONS AND OPEN QUESTIONS After a period of decline in interest and premature predictions of demise, industrial policy is back on the scene. A variety of trends have contributed to the renewed interest. In the developing world there has been a pushback against the market-fundamentalist approach, typically associated with the Washington Consensus. Even when growth rates have been high, economies in Sub-Saharan Africa and Latin America have experienced unsatisfactory rates of productive transformation and shortfalls in generating quality jobs in manufacturing or modern services. This has created a demand for proactive government policies to diversify and upgrade economies beyond simply freeing up markets. In the advanced economies, generalized labor market malaise and the lingering effects of the financial crisis have produced similar effects. Low growth dynamics occurred especially in the euro zone, as countries with 1 Policy Crossover Center Vienna-Europe (www.querdenkereuropa.at), 1090 Vienna, Rotenhausgasse 6/9 (OeGFE), Vienna University of Economics and Business, Vienna, Austria, corresponding author, [email protected] 2 79 J.F. Kennedy Street, Harvard Kennedy School, Cambridge,MA 02138, USA [email protected] trade and budget double deficits with a common currency struggled to come out of the crisis The continuing decline in the employment shares of manufacturing in the US and Western European countries, and the increasing competitive threat posed by China on world markets have pushed in the same direction.3 Interest in industrial policy is being further stimulated by disruptive technological change – from automatization to digitalization, industry 4.0, and the internet of things.
    [Show full text]
  • 16Th SAET Conference on Current Trends in Economics IMPA, Rio De Janeiro, July 6 - 9, 2016
    WELCOME On behalf of the Society for the Advancement of Economic Theory, we are pleased to welcome you in Rio de Janeiro on the occasion of the 16th SAET Conference. We wish to express gratitude to the various institutions that made this conference possible: first and foremost, to Instituto Nacional de Matemática Pura e Aplicada (IMPA) for their wonderful hospitality, Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq), Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES), Fundação Carlos Chagas Filho de Amparo à Pesquisa do Estado do Rio de Janeiro (FAPERJ), the University of Iowa, Itaú Bank and Bradesco Bank. Many thanks to the people who generously contributed to the success of this event, in particular, the members of the local organizing committee, the session organizers, the program committee and the help team. Special thanks to Suely Lima, Ana Paula Rodrigues, Leticia Ribas, Jurandira Ribas, Marcelo Viana, Michele Leite, Paula Dugin, Pedro Faro and Sonia Alves for their invaluable help along the progress, your help has been invaluable. We hope you enjoy the conference and we wish you a pleasant stay in Rio de Janeiro. Aloisio Araujo, José Heleno Faro, Juan Pablo Gama Torres, Susan Schommer and Nicholas Yannelis, Organizing Committee Executive Committee Bernard Cornet (President/Secretary) Robert Townsend (Second Vice-President) Nicholas Yannelis (Treasurer/Editor) Aloisio Araujo (Past President) David Levine (Member at Large) Charles Plott (Member at Large) Edward Prescott (Member at Large) Organizing
    [Show full text]
  • The Socialization of Investment, from Keynes to Minsky and Beyond
    Working Paper No. 822 The Socialization of Investment, from Keynes to Minsky and Beyond by Riccardo Bellofiore* University of Bergamo December 2014 * [email protected] This paper was prepared for the project “Financing Innovation: An Application of a Keynes-Schumpeter- Minsky Synthesis,” funded in part by the Institute for New Economic Thinking, INET grant no. IN012-00036, administered through the Levy Economics Institute of Bard College. Co-principal investigators: Mariana Mazzucato (Science Policy Research Unit, University of Sussex) and L. Randall Wray (Levy Institute). The author thanks INET and the Levy Institute for support of this research. The Levy Economics Institute Working Paper Collection presents research in progress by Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service. Through scholarship and economic research it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in the United States and abroad. Levy Economics Institute P.O. Box 5000 Annandale-on-Hudson, NY 12504-5000 http://www.levyinstitute.org Copyright © Levy Economics Institute 2014 All rights reserved ISSN 1547-366X Abstract An understanding of, and an intervention into, the present capitalist reality requires that we put together the insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer-term perspective, looking at the different stages through which capitalism evolves.
    [Show full text]
  • Measurement of Economic Performance and Social Progress
    Report by the Commission on the Measurement of Economic Performance and Social Progress Professor Joseph E. STIGLITZ, Chair, Columbia University Professor Amartya SEN, Chair Adviser, Harvard University Professor Jean-Paul FITOUSSI, Coordinator of the Commission, IEP www.stiglitz-sen-fitoussi.fr Other Members Bina AGARWAL University of Delhi Kenneth J. ARROW StanfordUniversity Anthony B. ATKINSON Warden of Nuffield College François BOURGUIGNON School of Economics, Jean-Philippe COTIS Insee, Angus S. DEATON Princeton University Kemal DERVIS UNPD Marc FLEURBAEY Université Paris 5 Nancy FOLBRE University of Massachussets Jean GADREY Université Lille Enrico GIOVANNINI OECD Roger GUESNERIE Collège de France James J. HECKMAN Chicago University Geoffrey HEAL Columbia University Claude HENRY Sciences-Po/Columbia University Daniel KAHNEMAN Princeton University Alan B. KRUEGER Princeton University Andrew J. OSWALD University of Warwick Robert D. PUTNAM Harvard University Nick STERN London School of Economics Cass SUNSTEIN University of Chicago Philippe WEIL Sciences Po Rapporteurs Jean-Etienne CHAPRON INSEE General Rapporteur Didier BLANCHET INSEE Jacques LE CACHEUX OFCE Marco MIRA D’ERCOLE OCDE Pierre-Alain PIONNIER INSEE Laurence RIOUX INSEE/CREST Paul SCHREYER OCDE Xavier TIMBEAU OFCE Vincent MARCUS INSEE Table of contents EXECUTIVE SUMMARY I. SHORT NARRATIVE ON THE CONTENT OF THE REPORT Chapter 1: Classical GDP Issues . 21 Chapter 2: Quality of Life . 41 Chapter 3: Sustainable Development and Environment . 61 II. SUBSTANTIAL ARGUMENTS PRESENTED
    [Show full text]
  • Programme Colloque Pdf En Nicholas Stern Sustainable Development
    COLLOQUE organisé par Nicholas STERN chaire Développement durable – Environnement, Énergie et Société et Roger GUESNERIE chaire Théorie économique et organisation sociale Managing Climate Change June 7 - 8, 2010 The conference’s program covers two days. During the first day, discussions will focus on long-term economics. Some of the chief participants in the animated debate that climate policy has generated among economists will be present. At the heart of the debate are the principles of cost-benefit analysis and the question of the long term discount rate. The second day’s discussions will revolve around innovation and institutional choices. As on the first day, leading specialists will present their views. Among the participants will be two Nobel Prize laureates in economics: Sir James Mirrlees on the first day and Thomas. C. Schelling on the second. Program June 7 The Economics of the Long Run June 8 Fostering Innovation and Climate Policy 9h15 Introduction 9h30 Nicholas Stern, College de France & London School 9h30 Martin Weitzman, Harvard University of Economics GHG Targets as Insurance against Catastrophic Low Carbon Growth and the Political Economy Climate Damages of a Global Agreement 10h15 Thomas Sterner, University of Gothenburg 10h15 Ujjayant Chakravorty, University of Alberta Climate Policy, Prudence, and the Role of Can Nuclear Power Supply Clean Energy in the Technological Innovation Long Run? A Model with Endogenous 11h00 Break Substitution of Resources 11h30 Roger Guesnerie, College de France & Paris School 11h00 Break of Economics 11h15 Philippe Aghion, Harvard University Ecological Intuition Versus Economic Reason Climate Change and the Role of Directed 12h15 William Nordhaus, Yale University Innovation Economic Policy in the Face of Severe Tail 12h00 Round Table: Climate Policy and Technological Events Change 13h00 Lunch Roger Guesnerie, Nicholas Stern, Jean Tirole and Henry Tulkens 14h30 Christian Gollier, Toulouse School of Economics Socially Efficient Discount Rate under Ambiguity 12h45 Lunch Aversion 14h15 Thomas C.
    [Show full text]
  • An Institutionalist Perspective on the World Financial Crisis
    An Institutionalist Perspective on the Global Financial Crisis Charles J. Whalen, Utica College April 2009 Abstract This essay, prepared for a forthcoming collection of perspectives on the current world economic crisis, offers an institutionalist viewpoint on the financial crisis at the center of world attention since mid-2008. It is divided into three sections. The first section provides a brief history of the institutionalist understanding of how an economy operates, with special emphasis on a tradition known as post-Keynesian institutionalism (PKI). The second section draws on PKI to offer an explanation of the global financial crisis. The third section identifies some of the public-policy steps that are required to achieve a more stable and broadly shared prosperity in the United States and abroad. At the heart of PKI is attention to unemployment and the broader economic concerns facing working families. That focus is rooted in the shared interests of John R. Commons and John M. Keynes, who saw the business cycle as an important cause of unemployment and recognized that attaining greater economic stability requires understanding the operation and evolution of financial institutions. 4/24/09. Prepared for Alternative Perspectives on the World Financial Crisis, edited by Steven Kates (Cheltenham, UK: Edward Elgar, forthcoming). 2 An Institutionalist Perspective on the Global Financial Crisis Charles J. Whalen Professor of Business and Economics, Utica College Visiting Fellow, Cornell University ILR School E-mail: [email protected] INTRODUCTION This chapter presents an institutionalist perspective on the financial crisis that has been at the center of world attention since mid-2008. It is divided into three sections.
    [Show full text]
  • Test the Robustness of the Results for Sequences of Approximat- Ing Finite Economies
    Implementation in Economies with a Continuum of Agents Author(s): Andreu Mas-Colell and Xavier Vives Source: The Review of Economic Studies, Vol. 60, No. 3, (Jul., 1993), pp. 613-629 Published by: The Review of Economic Studies Ltd. Stable URL: http://www.jstor.org/stable/2298127 Accessed: 27/05/2008 06:40 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=resl. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We enable the scholarly community to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources. For more information about JSTOR, please contact [email protected]. http://www.jstor.org Review of Economic Studies (1993) 60, 613-629 0034-6527/93/00310613$02.00 ? 1993 The Review of Economic Studies Limited Implementationin Economies with a Continuum of Agents ANDREU MAS-COLELL Harvard University and XAVIER VIVES Institut d'AnadlisiEcono'mica (CSIC), Universitat Autonoma de Barcelona First version received December 1989; final version accepted October 1992 (Eds.) We study a general implementation problem for exchange economies with a continuum of players and private information, and test the robustness of the results for sequences of approximat- ing finite economies.
    [Show full text]
  • In Memory of Edmond Malinvaud by Roger Guesnerie
    In Memory of Edmond Malinvaud Roger Guesnerie, President of the Paris School of Economics Edmond Malinvaud passed away at the beginning of March, in his ninety-second year. His career was in many regards exceptional: he was one of the most influential French economists of the twentieth century, both in his own country and around the world. A multi-faceted career Top public servant, scholar and teacher, Edmond Malinvaud’s professional life took many forms, and for more than half a century, often at the highest level in each of these fields. As a top-ranking public servant almost all of his professional life, he held several positions of responsibility. After Polytechnique, he chose to join the Institut National de la Statistique et des Etudes Economiques (INSEE), of which he remained a member until his election to the Collège de France in 1987. He played a determining role in the establishment of the Ecole Nationale de la Statistique et de l’Administration Economique, (ENSAE), of which he was the second director, from 1962 to 1966. Then, following his appointment as head of the Direction de la prévision of the Finance Ministry, he returned to INSEE as its director, from 1974 to 1987. In these last two posts, his energy and collegiality impressed everyone and he left a profound mark on the development of studies in both of these institutions. Edmond Malinvaud established himself as a scholar after a stay in the United States. In particular, on the basis of fruitful interactions with colleagues at the Cowles Foundation he produced a theoretical paper on the accumulation of capital that became a classic of the decade1.
    [Show full text]
  • Hyman Minsky's Financial Instability Hypothesis and the Greek Debt Crisis
    Available online at www.sciencedirect.com Russian Journal of Economics 1 (2015) 419–438 www.rujec.org +\PDQ0LQVN\¶V¿QDQFLDOLQVWDELOLW\K\SRWKHVLV ً DQGWKH*UHHNGHEWFULVLV 6HUJH\%HVKHQRY,YDQ5R]PDLQVN\* National Research University Higher School of Economics, St. Petersburg, Russia Abstract 7KLVDUWLFOHDWWHPSWVWRDQDO\]HWKHFXUUHQWGHEWFULVLVLQ*UHHFHEDVHGRQWKH¿QDQFLDO LQVWDELOLW\K\SRWKHVLVGHYHORSHGE\+\PDQ0LQVN\7KLVDUWLFOHVKRZVWKDWWKHK\SRWKHVLV SURYLGHVDQXQGHUVWDQGLQJRIKRZDQHFRQRP\HQGRJHQRXVO\EHFRPHV³¿QDQFLDOO\IUDJLOH´ DQGWKXVSURQHWRFULVHV7KHDXWKRUVDQDO\]HKRZSXEOLFDQGSULYDWHVHFWRUEHKDYLRULQ WKH*UHHNHFRQRP\OHGWRWKHFRXQWU\¶VGHEWFULVLV,QSDUWLFXODUEDVHGRQDVDPSOHRI *UHHNFRPSDQLHVWKHDXWKRUVVKRZWKDWEHWZHHQDQGWKHPDMRULW\RIWKRVH FRPSDQLHV KDG VZLWFKHG WR IUDJLOH ¿QDQFLDO VWUXFWXUHV 6SHFLDO DWWHQWLRQ LV GHYRWHG WR WKHQHJDWLYHFRQVHTXHQFHVRIDSSO\LQJWKHQHRFODVVLFDOGRFWULQHRI³DXVWHULW\PHDVXUHV´LQ *UHHFHDVWKHSULQFLSDO³DQWLFULVLV´FRQFHSWRIPDLQVWUHDPHFRQRPLFVFLHQFH 1RQSUR¿WSDUWQHUVKLS³9RSURV\(NRQRPLNL´+RVWLQJE\(OVHYLHU%9$OOULJKWV UHVHUYHG -(/FODVVL¿FDWLRQ%(((( .H\ZRUGV¿QDQFLDOLQVWDELOLW\K\SRWKHVLV0LQVN\3RVW.H\QHVLDQLVP¿QDQFLDOIUDJLOLW\*UHHN FULVLVDXVWHULW\PHDVXUHV 1. Introduction 7KHPDMRULW\RIWKLVDUWLFOHZDVZULWWHQODVWVXPPHUZKHQ*UHHFH¶VQDWLRQDOGHEW WR(XURSHDQEDQNVDQGWKH,0)ZDVRILWV*'3RUPRUHWKDQ(85ELOOLRQ *UHHFHZDVVFKHGXOHGWRSD\EDFN(85ELOOLRQWRWKH,0)RQ-XQHEXW ZDVXQDEOHWRGRVRGXHWRLWVFDWDVWURSKLFOLTXLGLW\JDS2Q-XQHWKHFRXQWU\ LQVWLWXWHGFDSLWDOÀRZFRQWUROV)RUWKUHHZHHNV XQWLO-XO\ HYHU\EDQNZDV FORVHGWKURXJKRXW*UHHFHZKLOHWKHKROLGD\VRQWKH$WKHQV6WRFN([FKDQJHZHUH 7KH XSGDWHG
    [Show full text]
  • The European Socio-Economic Model. Differences to the USA and Changes Over Time
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Aiginger, Karl; Guger, Alois Working Paper The European Socio-Economic Model. Differences to the USA and Changes over Time WIFO Working Papers, No. 266 Provided in Cooperation with: Austrian Institute of Economic Research (WIFO), Vienna Suggested Citation: Aiginger, Karl; Guger, Alois (2005) : The European Socio-Economic Model. Differences to the USA and Changes over Time, WIFO Working Papers, No. 266, Austrian Institute of Economic Research (WIFO), Vienna This Version is available at: http://hdl.handle.net/10419/128806 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu ÖSTERREICHISCHES INSTITUT FÜR WIRTSCHAFTSFORSCHUNG WORKING PAPERS The European Socio-Economic Model Differences to the USA and Changes over Time Karl Aiginger, Alois Guger 266/2005 The European Socio-Economic Model Differences to the USA and Changes over Time Karl Aiginger, Alois Guger WIFO Working Papers, No.
    [Show full text]
  • Minsky's Moment
    Minsky’s moment July 30, 2016 – The Economist From the start of his academic career in the stockmarket bust or currency crash, but modern 1950s until 1996, when he died, Hyman Minsky economies had, it seemed, vanquished their laboured in relative obscurity. His research worst demons. about financial crises and their causes attracted Against those certitudes, Minsky, an owlish man a few devoted admirers but little mainstream with a shock of grey hair, developed his attention: this newspaper cited him only once “financial-instability hypothesis”. It is an while he was alive, and it was but a brief examination of how long stretches of prosperity mention. So it remained until 2007, when the sow the seeds of the next crisis, an important subprime-mortgage crisis erupted in America. lens for understanding the tumult of the past Suddenly, it seemed that everyone was turning decade. But the history of the hypothesis itself is to his writings as they tried to make sense of the just as important. Its trajectory from the margins mayhem. Brokers wrote notes to clients about of academia to a subject of mainstream debate the “Minsky moment” engulfing financial shows how the study of economics is adapting markets. Central bankers referred to his theories to a much-changed reality since the global in their speeches. And he became a posthumous financial crisis. media star, with just about every major outlet giving column space and airtime to his ideas. Minsky started with an explanation of The Economist has mentioned him in at least 30 investment. It is, in essence, an exchange of articles since 2007.
    [Show full text]