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- Minsky_moment abstract "A Minsky moment is a sudden major collapse of asset values which is part of the credit cycle or business cycle. Such moments occur because long periods of prosperity and increasing value of investments lead to increasing speculation using borrowed money. The spiraling debt incurred in financing speculative investments leads to cash flow problems for investors. The cash generated by their assets no longer is sufficient to pay off the debt they took on to acquire them. Losses on such speculative assets prompt lenders to call in their loans. This is likely to lead to a collapse of asset values. Meanwhile, the over-indebted investors are forced to sell even their less-speculative positions to make good on their loans. However, at this point no counterparty can be found to bid at the high asking prices previously quoted. This starts a major sell-off, leading to a sudden and precipitous collapse in market-clearing asset prices, a sharp drop in market liquidity, and a severe demand for cash.A more general meaning is to say that a "Minsky Cycle" features a series of Minsky Moments... in which a period of stability encourages risk taking, which leads to a period of instability, which causes more conservative and risk-averse (de-leveraging) behavior, until stability is restored, continuing the cycle. In this more general view, the Minsky Cycle may apply to a wide range of human activities, beyond investment economics.The term was coined by Paul McCulley of PIMCO in 1998, to describe the 1998 Russian financial crisis, and was named after economist Dr. Hyman Minsky, who noted that bankers, traders, and other financiers periodically played the role of arsonists, setting the entire economy ablaze. Minsky opposed the deregulation that characterized the 1980s.Some, such as McCulley, have dated the start of the financial crisis of 2007–2010 to a Minsky moment, and called the following crisis a "reverse Minsky journey"; McCulley dates the moment to August 2007, while others date the start to some months earlier or later, such as the June 2007 failure of two Bear Stearns funds.The concept has some parallels with Austrian business cycle theory although Minsky himself was known as a Keynesian and is identified as a post-Keynesian—as is McCulley.Economic cycles were an accepted norm at ancient times in many cultures, none more so than in biblical Jubilee-based systems where two cycles run simultaneously. One being a seven-year cycle and the other being a fifty-year cycle in which all debts get defaulted and written off. Any contract made involving debt takes into account a priori that the debt will be written off during the Jubilee year thereby overcoming any destabilizing effects of eventual economic cycles and collapse of asset values.".
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- Minsky_moment wikiPageRevisionID "674121639".
- Minsky_moment wikiPageWikiLink 1998_Russian_financial_crisis.
- Minsky_moment wikiPageWikiLink Austrian_business_cycle_theory.
- Minsky_moment wikiPageWikiLink Bear_Stearns.
- Minsky_moment wikiPageWikiLink Business_cycle.
- Minsky_moment wikiPageWikiLink Category:Business_cycle_theory.
- Minsky_moment wikiPageWikiLink Category:Economic_problems.
- Minsky_moment wikiPageWikiLink Category:Economics_terminology.
- Minsky_moment wikiPageWikiLink Category:Financial_crises.
- Minsky_moment wikiPageWikiLink Category:Financial_risk.
- Minsky_moment wikiPageWikiLink Credit_cycle.
- Minsky_moment wikiPageWikiLink Debt_deflation.
- Minsky_moment wikiPageWikiLink Financial_crisis_of_2007–08.
- Minsky_moment wikiPageWikiLink Financial_crisis_of_2007–2010.
- Minsky_moment wikiPageWikiLink Hedge_(finance).
- Minsky_moment wikiPageWikiLink Hyman_Minsky.
- Minsky_moment wikiPageWikiLink John_Cassidy_(journalist).
- Minsky_moment wikiPageWikiLink Keynesian.
- Minsky_moment wikiPageWikiLink Keynesian_economics.
- Minsky_moment wikiPageWikiLink PIMCO.
- Minsky_moment wikiPageWikiLink Paul_McCulley.
- Minsky_moment wikiPageWikiLink Ponzi_scheme.
- Minsky_moment wikiPageWikiLink Post-Keynesian.
- Minsky_moment wikiPageWikiLink Post-Keynesian_economics.
- Minsky_moment wikiPageWikiLink Sub-prime_mortgage_crisis.
- Minsky_moment wikiPageWikiLink Subprime_mortgage_crisis.
- Minsky_moment wikiPageWikiLink The_New_Yorker.
- Minsky_moment wikiPageWikiLinkText "Minsky moment".
- Minsky_moment hasPhotoCollection Minsky_moment.
- Minsky_moment wikiPageUsesTemplate Template:Reflist.
- Minsky_moment wikiPageUsesTemplate Template:Use_dmy_dates.
- Minsky_moment subject Category:Business_cycle_theory.
- Minsky_moment subject Category:Economic_problems.
- Minsky_moment subject Category:Economics_terminology.
- Minsky_moment subject Category:Financial_crises.
- Minsky_moment subject Category:Financial_risk.
- Minsky_moment hypernym Collapse.
- Minsky_moment type Article.
- Minsky_moment type Disease.
- Minsky_moment type Article.
- Minsky_moment comment "A Minsky moment is a sudden major collapse of asset values which is part of the credit cycle or business cycle. Such moments occur because long periods of prosperity and increasing value of investments lead to increasing speculation using borrowed money. The spiraling debt incurred in financing speculative investments leads to cash flow problems for investors. The cash generated by their assets no longer is sufficient to pay off the debt they took on to acquire them.".
- Minsky_moment label "Minsky moment".
- Minsky_moment sameAs ミンスキー・モーメント.
- Minsky_moment sameAs Moment_Minskyego.
- Minsky_moment sameAs m.02z4kcy.
- Minsky_moment sameAs منسکی_مومنٹ.
- Minsky_moment sameAs Q5971082.
- Minsky_moment sameAs Q5971082.
- Minsky_moment sameAs 明斯基时刻.
- Minsky_moment wasDerivedFrom Minsky_moment?oldid=674121639.
- Minsky_moment isPrimaryTopicOf Minsky_moment.