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Using the work of Kalecki and Fisher, this economist introduced limitations on the trade cycle model wherein the acceleration coefficient would decrease during booms. In works like Can it Happen Again and John Maynard Keynes, he describes a credit situation in which investors short-sell even good assets to resolve cash flow issues, and he suggests that business cycles fundamentally swing between robustness and fragility, which is dubbed the "financial instability hypothesis." The author of Stabilizing an Unstable Economy, for 10 points, name this post-Keynesian American economist of Belorussian extraction, whose namesake moment is said to have occurred at the start of the recent financial crisis.
Using the work of Kalecki and Fisher, this economist introduced limitations on the trade cycle model wherein the acceleration coefficient would decrease during booms.
{Hyman Minsky}