Contributions To Stock Flow Modeling
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Contributions To Stock Flow Modeling
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Author : D. Papadimitriou
language : en
Publisher: Springer
Release Date : 2011-12-12
Contributions To Stock Flow Modeling written by D. Papadimitriou and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-12 with Business & Economics categories.
A collection of papers from leading thinkers to celebrate the work of the late Wynne Godley, and his enormous contribution to the field of monetary economics. Chapters include in-depth discussions of the revolutionary economic modelling systems that Godley introduced, as well as his prescient concerns about the global financial crash.
Contributions To Stock Flow Modeling
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Author : D. Papadimitriou
language : en
Publisher: Springer
Release Date : 2011-12-12
Contributions To Stock Flow Modeling written by D. Papadimitriou and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-12 with Business & Economics categories.
A collection of papers from leading thinkers to celebrate the work of the late Wynne Godley, and his enormous contribution to the field of monetary economics. Chapters include in-depth discussions of the revolutionary economic modelling systems that Godley introduced, as well as his prescient concerns about the global financial crash.
On The Design Of Empirical Stock Flow Consistent Models
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Author : Gennaro Zezza
language : en
Publisher:
Release Date : 2019
On The Design Of Empirical Stock Flow Consistent Models written by Gennaro Zezza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Macroeconomics categories.
Stock Flow Consistent Macroeconomic Models
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Author : Michalis Nikiforos
language : en
Publisher:
Release Date : 2017
Stock Flow Consistent Macroeconomic Models written by Michalis Nikiforos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Macroeconomics categories.
A Prototype Regional Stock Flow Consistent Model
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Author : Francesco Zezza
language : en
Publisher:
Release Date : 2022
A Prototype Regional Stock Flow Consistent Model written by Francesco Zezza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
Starting from the seminal works of Wynne Godley (1999; Godley and Lavoie 2005, 2007a, 2007b), the literature adopting stock-flow consistent (SFC) models for two or more countries has been flourishing, showing that consistently taking into account real and financial markets of two open economies will generate different results with respect to more traditional open economy models. However, few contributions, if any, have modeled two regions in the same country, and our paper aims at filling this gap. When considering a regional context, most of the adjustment mechanisms at work in open economy models-such as exchange rate movements, or changes in interest on public debt-are simply not present, as they are controlled by "external" authorities. So, what are the adjustment mechanisms at work? To answer this question, we adapt the framework suggested in Godley and Lavoie (2007a) to consider two regions that share the same monetary, fiscal, and exchange rate policies. We loosely calibrate our model to Italian data, where the South (Mezzogiorno) has both a lower level of real income per capita and a lower growth rate than the North. We also introduce a fragmented labor market, as discouraged workers in the South will move North in hopes of finding commuting jobs. Our model replicates some key features of the Italian economy and sheds light on the interactions between financial and real markets in regional economies with "current account" imbalances.
The Stock Flow Consistent Approach
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Author : Marc Lavoie
language : en
Publisher: Springer
Release Date : 2011-12-12
The Stock Flow Consistent Approach written by Marc Lavoie and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-12 with Business & Economics categories.
Selected essays from the eminent economist, Wynne Godley, tracing the development of his work and illuminating the key theories and models that made his name. Essays focus not only on the stock-flow coherent approach, but also lay out Godley's views about the European Union and the stability of its monetary policy.
Stock Flow Consistent Models And Institutional Variety
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Author : Romar Correa
language : en
Publisher: Vernon Press
Release Date : 2019-02-15
Stock Flow Consistent Models And Institutional Variety written by Romar Correa and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-15 with Business & Economics categories.
Orthodox macroeconomics is founded on microeconomics. Heterodox economists either reject micro foundations or experiment with behavioural relationships without paying attention to the principles that generate them. The book takes off from Michal Kalecki’s aphorism about economics being a science that confused stocks and flows. Kalecki was famous for presiding over a marriage between Marx and Keynes and all three figure prominently in the volume. However, the first part of the title is a homage to Wynne Godley who pioneered stock-flow-consistent modeling in our times. The authors exploit lagged values of variables emerging from the definitions. Lags also emerge in so-called stock-flow norms connecting the aggregates. Some moving and shaking of identities and a difference or differential equation emerges. The requirements for stability of the dynamic systems are illuminating and the reader can stop at structure and history with the first half of the book. The conversation with orthodoxy begins with the second part. The equivalent equation systems of the first part throw up different pairs of characters whose happiness must be maximised over time. The price to pay through the solution process is the confrontation with many ugly expressions but the explicit calculations are undertaken repeatedly only to reassure students through drillwork that tedium is not the same as difficulty. The payoffs are that variable transitions in capitalism (the second part of the title) are captured from a small clutch of identities. The movements from backward agriculture to capitalism, from ‘golden age’ capitalism to ‘financialization’, are modeled. A separate chapter is devoted to Europe. The policy prescriptions of heterodox economics do not compare with the richness of critique and positive analysis. ‘Positive’ and ‘normative’ are one in this work, the combination of stock-flow norms along with ‘forgotten’ policy variables like the tax rate promising order and stability to economies.
The Routledge Handbook Of Heterodox Economics
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Author : Tae-Hee Jo
language : en
Publisher: Routledge
Release Date : 2017-07-28
The Routledge Handbook Of Heterodox Economics written by Tae-Hee Jo and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-28 with Business & Economics categories.
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a ‘pluralistic’ heterodox perspective. Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, firstly, to provide realistic and coherent theoretical frameworks to understand the capitalist economy in a constructive and forward-looking manner. Secondly, it delineates the future directions, as well as the current state, of heterodox economics, and then provides both ‘heat and light’ on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches. The volume also envisions transformative economic and social policies for the majority of the population and explains why economics is, and should be treated as, a social science. This Handbook will be of compelling interest to those, including students, who wish to learn about alternative economic theories and policies that are rarely found in conventional economics textbooks or discussed in the mainstream media, and to critical economists and other social scientists who are concerned with analyzing pressing socio-economic issues.
Frontiers Of Heterodox Macroeconomics
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Author : Philip Arestis
language : en
Publisher: Springer Nature
Release Date : 2019-09-05
Frontiers Of Heterodox Macroeconomics written by Philip Arestis and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-05 with Political Science categories.
In the past few decades, and intensified since the global financial crisis of August 2007, heterodox macroeconomics has developed apace and its scope has broadened in a number of directions. The purpose of this volume is to review the ‘state of the art’ in heterodox macroeconomics, its strengths and weaknesses and future directions. Heterodox macroeconomics has broadened its scope through gender macroeconomics, ecological macroeconomics and further incorporated income distribution and inequality into macroeconomics analysis. New macroeconomic models, particularly stock-flow consistent modelling has become a widely used mode of analysis. Money and finance, monetary policy and fiscal policy as well as other policies have been discussed widely. The focus of this edited collection is on all of these issues, with chapters focusing on inflation, ecological sustainability and regulatory policy.
Analytical Political Economy
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Author : Roberto Veneziani
language : en
Publisher: John Wiley & Sons
Release Date : 2018-06-11
Analytical Political Economy written by Roberto Veneziani and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-11 with Political Science categories.
Offering a unique picture of recent developments in a range of non-conventional theoretical approaches in economics, this book introduces readers to the study of Analytical Political Economy and the changes within the subject. Includes a wide range of topics and theoretical approaches that are critically and thoroughly reviewed Contributions within the book are written according to the highest standards of rigor and clarity that characterize academic work Provides comprehensive and well-organized surveys of cutting-edge empirical and theoretical work covering an exceptionally wide range of areas and fields Topics include macroeconomic theories of growth and distribution; agent-based and stock-flow consistent models; financialization and Marxian price and value theory Investigates exploitation theory; trade theory; the role of expectations and ‘animal spirits’ on macroeconomic performance as well as empirical research in Marxian economics