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Debt cycles, instability and fiscal rules: A Godley-Minsky model
Working Paper
Dafermos, Y. (2015). Debt cycles, instability and fiscal rules: A Godley-Minsky model

Wynne Godley and Hyman Minsky were two macroeconomists who ‘saw the crisis coming’. This paper develops a simple macrodynamic model that synthesises some key perspectives of their analytical frameworks. The model incorporates Godley’s financial balan... Read More about Debt cycles, instability and fiscal rules: A Godley-Minsky model.

Climate change, financial stability and monetary policy
Working Paper
Dafermos, Y., Nikolaidi, M., & Galanis, G. (2017). Climate change, financial stability and monetary policy

Using a stock-flow-fund ecological macroeconomic model, we analyse (i) the effects of climate change on financial stability and (ii) the financial and global warming implications of a green quantitative easing (QE) programme. Emphasis is placed on th... Read More about Climate change, financial stability and monetary policy.