My main research area is modelling Minsky's "Financial Instability Hypothesis", which argues that speculative finance can destablise the economy. I have provided mathematical models of this process, which have been published in a number of places. I have linked some of these below, where copyright allows. My next book, Finance and Economic Breakdown, will give a comprehensive presentation of this work.
As I argue in some of these papers, I believe Japan has fallen into a debt deflation, which is why their economic downturn has been so prolonged and intractable. Given the enormous credit bubble in the USA associated with the Internet, I expect America to fall into the same trap within the next year.
2001
"Minsky's thesis: Keynesian or Marxian?" in Bellofiori, R., & Ferri, P., (eds.), Financial Keynesianism and Market Instability, Edward Elgar, Aldershot, 106-120 (paper as presented at the Bergamo conference)
"The Nonlinear Economics of Debt Deflation", in Barnett, W., Chiarella, C., Keen, S., Marks, R., Schnabl, H., (eds), Commerce, Complexity and Evolution, Cambridge University Press, 83-110.
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The Nonlinear Dynamics of Debt Deflation", Complexity International, Volume 6."Analytical Solution of a System Dynamics Model of Cyclical Office Oversupply under Simplifying Assumptions" (with Max Kummerow, Department of Property Studies, Curtin University), Journal of Real Estate Research 1999 (forthcoming).
"Goodwin predator-prey model", O'Hara, P. (ed.), Encyclopaedic Dictionary of Political Economy, Routledge (in press), pp. 433-435
"Minsky's Financial Instability Hypothesis", O'Hara, P. (ed.), Encyclopaedic Dictionary of Political Economy, Routledge (in press), pp. 373-376
"Use-value", O'Hara, P. (ed.), Encyclopaedic Dictionary of Political Economy, Routledge (in press), pp. 1176-1178
"Answers (and Questions) for Sraffians (and Kaleckians)", Review of Political Economy, Vol. 10, No. 1, 73-87.
"From Prohibition to Depression: the Western attitude to usury", Accounting, Commerce and Finance: the Islamic Perspective, Vol. 1 No.1, 26-55.
"From stochastics to complexity in models of economic instability", Nonlinear Dynamics, Psychology and Life Sciences, Vol. 1, No. 2, 151-172.
"The Chaos of finance", Economies et Societes, Vol. 30, special issue Monnaie et Production No. 10, 55-82.
"Finance and economic breakdown: modelling Minsky’s Financial Instability Hypothesis", Journal of Post Keynesian Economics, Vol. 17, No. 4, 607-635.
"Use-value, Exchange-value, and the Demise of Marx’s Labor Theory of Value", Journal of the History of Economic Thought, 15 (1), Spring, 107-121.
"The Misinterpretation of Marx's Theory of Value", Journal of the History of Economic Thought, 15 (2), Fall, 282-300.
Barnett, W., Chiarella, C., Keen, S., Marks, R., Schnabl, H., (eds), Commerce, Complexity and Evolution, Cambridge University Press.
Debunking Economics, Pluto Press, Annandale. (also Pluto Press, London [UK] & Pluto Press, New York [US])
"The Never-Ending Cycle", in Dow, G., (ed.), Everlasting uncertainty: The Communist Manifesto 1848-1998, Pluto Press, Sydney.
"Comment on Fel’dman’s structural model of economic growth" in Groenewegen, P. and McFarlane, B., (eds), Socialist Thought in the Post Cold War Era, Journal of Contemporary Asia Publishers, Manila, 39-47.