{"id":"https://openalex.org/W2062643341","doi":null,"title":"The U.S. Credit Crunch of 2007: A Minsky Moment","display_name":"The U.S. Credit Crunch of 2007: A Minsky Moment","publication_year":2007,"publication_date":"2007-01-01","ids":{"openalex":"https://openalex.org/W2062643341","mag":"2062643341"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:lev:levppb:ppb_92","doi":null,"is_oa":false,"landing_page_url":"https://www.levyinstitute.org/pubs/ppb_92.pdf","pdf_url":"https://www.levyinstitute.org/pubs/ppb_92.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://hdl.handle.net/10419/54321","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5054049605","display_name":"Charles J. Whalen","orcid":"https://orcid.org/0000-0001-6229-6634","observed_orcids":["https://orcid.org/0000-0001-6229-6634"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Charles J. Whalen","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-6229-6634","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5054049605"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":22,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11817","display_name":"Housing, Finance, and Neoliberalism","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/credit-crunch","display_name":"credit crunch","score":0.8970000147819519},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.8460000157356262},{"id":"https://openalex.org/keywords/minsky-moment","display_name":"Minsky moment","score":0.8519999980926514},{"id":"https://openalex.org/keywords/hyman-minsky","display_name":"Hyman Minsky","score":0.9620000123977661},{"id":"https://openalex.org/keywords/financial-instability-hypothesis","display_name":"financial instability hypothesis","score":0.996999979019165},{"id":"https://openalex.org/keywords/john-maynard-keynes","display_name":"John Maynard Keynes","score":0.8119999766349792},{"id":"https://openalex.org/keywords/economic-instability","display_name":"economic instability","score":0.8080000281333923},{"id":"https://openalex.org/keywords/alternative-economics","display_name":"alternative economics","score":0.4690000116825104},{"id":"https://openalex.org/keywords/financial-markets","display_name":"financial markets","score":0.3109999895095825}],"concepts":[{"id":"https://openalex.org/C180879305","wikidata":"https://www.wikidata.org/wiki/Q590998","display_name":"Credit crunch","level":2,"score":0.7936550378799438},{"id":"https://openalex.org/C2780614964","wikidata":"https://www.wikidata.org/wiki/Q811154","display_name":"Crunch","level":2,"score":0.6433043479919434},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6266658306121826},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.5097896456718445},{"id":"https://openalex.org/C83873408","wikidata":"https://www.wikidata.org/wiki/Q192311","display_name":"Business cycle","level":2,"score":0.4379901885986328},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.41666731238365173},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.4136312007904053},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.32257017493247986},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.31726205348968506},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C1862650","wikidata":"https://www.wikidata.org/wiki/Q186005","display_name":"Physical therapy","level":1,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"pmh:oai:RePEc:lev:levppb:ppb_92","doi":null,"is_oa":false,"landing_page_url":"https://www.levyinstitute.org/pubs/ppb_92.pdf","pdf_url":"https://www.levyinstitute.org/pubs/ppb_92.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:econstor.eu:10419/54321","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10419/54321","pdf_url":"http://hdl.handle.net/10419/54321","source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:report"},{"id":"mag:2062643341","doi":null,"is_oa":false,"landing_page_url":"https://www.econstor.eu/bitstream/10419/54321/1/557644089.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3121349880","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/lev/levppb/ppb_92.html","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:econstor.eu:10419/54321","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10419/54321","pdf_url":"http://hdl.handle.net/10419/54321","source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"doc-type:report"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2062643341.pdf","grobid_xml":"https://content.openalex.org/works/W2062643341.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7096586648","https://openalex.org/W2334932961","https://openalex.org/W7095397922","https://openalex.org/W2062741580","https://openalex.org/W2801458263","https://openalex.org/W2472857156","https://openalex.org/W4392080953","https://openalex.org/W1982744423","https://openalex.org/W3125883111","https://openalex.org/W2911499436"],"abstract_inverted_index":{"It":[0,118],"is":[1,29,154],"now":[2],"clear":[3],"that":[4,16,103,152,210],"most":[5],"economists":[6],"underestimated":[7],"the":[8,13,57,64,80,93,104,131,139,149,158,174,191,199],"widening":[9],"economic":[10,31,146],"impact":[11],"of":[12,53,59,108,126,133,151,167,176,198,209],"credit":[14,27,106,193],"crunch":[15,28,107,194],"has":[17],"shaken":[18],"American":[19],"financial":[20,159],"markets":[21],"since":[22],"at":[23,124],"least":[24],"mid-July.":[25],"A":[26],"an":[30,165,177],"condition":[32],"in":[33,43],"which":[34,162],"loans":[35],"and":[36,48,86,172,179,195],"investment":[37],"capital":[38],"are":[39],"difficult":[40],"to":[41,63,91,183,190,203],"obtain;":[42],"such":[44,84],"a":[45,115,122,134,206],"period,":[46],"banks":[47],"other":[49],"lenders":[50],"become":[51],"wary":[52],"issuing":[54],"loans,":[55],"so":[56],"price":[58],"borrowing":[60],"rises,":[61],"often":[62],"point":[65],"where":[66],"deals":[67],"simply":[68],"do":[69],"not":[70],"get":[71],"done.":[72],"Financial":[73],"economist":[74],"Hyman":[75],"P.":[76],"Minsky":[77,116,135,156],"(1919-1996)":[78],"was":[79],"foremost":[81],"expert":[82],"on":[83,145],"crunches,":[85],"his":[87],"ideas":[88,141],"remain":[89],"relevant":[90,202],"understanding":[92],"current":[94],"situation.":[95],"This":[96],"brief":[97,187],"by":[98,120],"Charles":[99],"J.":[100],"Whalen":[101],"demonstrates":[102],"US":[105],"2007":[109,192],"can":[110],"aptly":[111],"be":[112],"described":[113],"as":[114],"moment.":[117],"begins":[119],"taking":[121],"look":[123],"aspects":[125],"this":[127],"crunch,":[128],"then":[129,188],"examines":[130],"notion":[132],"moment,":[136],"along":[137],"with":[138],"main":[140],"informing":[142],"Minsky's":[143],"perspective":[144],"instability.":[147],"At":[148],"heart":[150],"viewpoint":[153],"what":[155],"called":[157],"instability":[160],"hypothesis,":[161],"derives":[163],"from":[164],"interpretation":[166],"John":[168],"Maynard":[169],"Keynes's":[170],"work":[171],"underscores":[173],"value":[175],"evolutionary":[178],"institutionally":[180],"grounded":[181],"alternative":[182],"conventional":[184],"economics.":[185],"The":[186],"returns":[189],"identifies":[196],"some":[197],"key":[200],"elements":[201],"fleshing":[204],"out":[205],"Minsky-oriented":[207],"account":[208],"event.":[211]},"counts_by_year":[{"year":2022,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2017,"cited_by_count":1},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}
