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All Outputs (4)

Institutional supercycles: An evolutionary macro-finance approach (2020)
Working Paper
Dafermos, Y., Gabor, D., & Michell, J. (2020). Institutional supercycles: An evolutionary macro-finance approach

We build upon the Minskyan concepts of ‘thwarting mechanisms’ and ‘supercycles’ to develop a framework for the analysis of the dynamic evolutionary interactions between macrofinancial, institutional and political processes. Thwarting m... Read More about Institutional supercycles: An evolutionary macro-finance approach.

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.

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. Bristol

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.