The book deals with the financial instability hypothesis of Hyman P. Minsky and its application to the current financial crisis. The first part of the work summarizes the hypothesis and mentions works elaborating the hypothesis. The second part applies the hypothesis to the current financial crisis. The whole book refers to the general discussion about relations of the Minsky’s hypothesis to the current financial crisis and to the fall of the insurance company AIG Corporation. The second part concludes that many relevant parts of Minsky’s hypothesis can be applied to the recent financial crisis but important differences of the current financial system to the system in Minsky’s times should be aware of. There are two most important differences: changes in risk management and new financial instruments. At the end, the book discusses the implications of these differences for applicability of the hypothesis on the current financial crisis. It regards the fact that the recent financial crisis is caused by rational behaviour of economic agents and not by exogenous forces as the most important lesson to learn from the financial instability hypothesis of Hyman P. Minsky.
In the current scenario, Sampling theory and Testing of Hypothesis play an important role in the literature of various disciplines of Statistics and Operations Research. The present book highlights the developments concerned with the Sampling theory and Testing of Hypothesis and its applications to various disciplines dealing with Statistical Analysis. It aims at addressing the key issues pertaining to these topics and will be helpful to Biologists, Statisticians and Operational Researchers.
The periodic incorporation of advances in the biomedical, bioengineering, and computer sciences allow the creation of increasingly more comprehensive revisions of the functional matrix hypothesis.Craniofacial skeletal growth is very important in Orthodontics, since variations in craniofacial morphology are the source of most serious malocclusions. To understand growth one must know the Functional Matrix Hypothesis (FMH). The aim of this book is to cover all the basics, concepts and modifications of Functional Matrix Hypothesis.
The literature indicates a positive role of human capital on earnings. This hypothesis is tested along with the role of some other important variables. The methodology adopted in this book is based on the Mincerian model. It also uses spline function to see the impact of the human capital variables on the earnings of regular wage employees. Beside education and experience, literacy index, technical training, and school quality are included in the earning functions estimated for individuals. The book tests the two popular hypothesis about the role of education i.e. productivity hypothesis which states that education provides the skills which increase the workers productivity and the credintialist’s hypothesis that education does not improve productivity rather it provides positive signals about productivity of the worker to the potential employer.