Financial Conditions and Macroeconomic Performance

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Financial Conditions and Macroeconomic Performance is written by Steven M. Fazzari and published by M.E. Sharpe. It's available with International Standard Book Number or ISBN identification 1563240165 (ISBN 10) and 9781563240164 (ISBN 13).

This collection of papers on financial instability and its impact on macroeconomic performance honours Hyman P. Minsky and his lifelong work. It is based on a conference at Washington University, St. Louis, in 1990 and includes among the authors Benjamin M. Friedman, Charles P. Kindleberger, Jan Kregel and Steven Fazzari. These papers consider Minsky's definitive analysis that yields such a clear and disturbing sequence of financial events: booms, government intervention to prevent debt contraction and new booms that cause a progressive buildup of new debt, eventually leaving the economy much more fragile financially.