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A Simplified, 'Benchmark', Stock-Flow Consistent Post-Keynesian Growth Model

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  • Claudio H. Dos Santos
  • Gennaro Zezza

Abstract

Despite being arguably one of the most active areas of research in heterodox macroeconomics, the study of the dynamic properties of stock-flow consistent (SFC) growth models of financially sophisticated economies is still in its first steps. This paper attempts to offer a contribution to this line of research by presenting a simplified SFC Post-Keynesian growth model with well-defined dynamic properties and using it to shed light on the merits and limitations of the current heterodox SFC literature. Copyright � 2008 The Authors. Journal compilation � 2008 Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Metroeconomica.

Volume (Year): 59 (2008)
Issue (Month): 3 (07)
Pages: 441-478

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Handle: RePEc:bla:metroe:v:59:y:2008:i:3:p:441-478

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Cited by:
  1. Greg Hannsgen, 2012. "Fiscal Policy, Unemployment Insurance, and Financial Crises in a Model of Growth and Distribution," Economics Working Paper Archive wp_723, Levy Economics Institute, The.
  2. Dirk J. Bezemer, 2011. "Causes of Financial Instability: Don’t Forget Finance," Economics Working Paper Archive wp_665, Levy Economics Institute, The.
  3. Marco, Passarella, 2011. "A simplified stock-flow consistent dynamic model of the systemic financial fragility in the 'New Capitalism'," MPRA Paper 28499, University Library of Munich, Germany.
  4. Soon Ryoo, 2009. "Long waves and short cycles in a model of endogenous financial fragility," UMASS Amherst Economics Working Papers 2009-03, University of Massachusetts Amherst, Department of Economics.
  5. Passarella, Marco, 2011. "The two-price model revisited. A Minskian-Kaleckian reading of the process of 'financialization'," MPRA Paper 32033, University Library of Munich, Germany.
  6. Peter Skott & Ben Zipperer, 2012. "An empirical evaluation of three post-Keynesian models," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 9(2), pages 277-307.
  7. Peter Skott, 2008. "Growth, instability and cycles: Harrodian and Kaleckian models of accumulation and income distribution," UMASS Amherst Economics Working Papers 2008-12, University of Massachusetts Amherst, Department of Economics.
  8. Marco, Passarella, 2011. "Systemic financial fragility and the monetary circuit: a stock-flow consistent approach," MPRA Paper 28498, University Library of Munich, Germany.
  9. Passarella, Marco, 2011. "From the village fair to Wall Street. The Italian reception of Minsky’s economic thought," MPRA Paper 49593, University Library of Munich, Germany.
  10. Mulligan, Robert F., 2013. "A sectoral analysis of the financial instability hypothesis," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(4), pages 450-459.
  11. Hiroshi Nishi, 2011. "Formalizing Debt-led and Debt-burdened Growth Regimes with Endogenous Macrodynamics of Minskian Financial Structure: A Long-run Analysis," Discussion papers e-10-016, Graduate School of Economics Project Center, Kyoto University.
  12. Stephen Kinsella & Antoine Godin & G. Tiou-Tagba Aliti, 2012. "Method to Simultaneously Determine Stock, Flow, and Parameter Values in Large Stock Flow Consistent Models," INET Research Notes 20, Institute for New Economic Thinking (INET).
  13. Peter Skott, 2012. "Theoretical And Empirical Shortcomings Of The Kaleckian Investment Function," Metroeconomica, Wiley Blackwell, vol. 63(1), pages 109-138, 02.

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