A Post-Keynesian Stock-Flow Consistent Macroeconomic Growth Model: Preliminary Results
AbstractStock-flow consistent models may be considered the rallying point for heterodox authors interested in modeling macroeconomic relations, since these models incorporate real and financial relations in an entirely consistent way, therefore providing macroeconomic constraints to individual behavior. The present model expands on the Godley-Lavoie model of growth, which was based on a two-asset world, with only bank deposits and the shares issued by private corporations. The present model incorporates the financial relations among the central bank, private banks, and the fiscal policy of government, showing the endogeneity of money under different assumptions on banks' behavior. The model is used to analyze the relationship between the distribution of income and growth, and to study the impact of monetary policy.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Levy Economics Institute, The in its series Economics Working Paper Archive with number wp_402.
Date of creation: Feb 2004
Date of revision:
Contact details of provider:
Web page: http://www.levyinstitute.org
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Domenico Delli Gatti & Mauro Gallegati & Hyman P. Minsky, 1999.
"Financial Institutions, Economic Policy, and the Dynamic Behavior of the Economy,"
- Domenico Delli Gatti & Mauro Gallegati & Hyman P. Minsky, 1994. "Financial Institutions, Economic Policy, and the Dynamic Behavior of the Economy," Economics Working Paper Archive wp_126, Levy Economics Institute, The.
- Gancho Ganchev, 2013. "The theory of the monetary circuit (English)," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 15-25.
- Gancho Ganchev, 2013. "The theory of the monetary circuit (Bulgarian)," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-14.
- Eugenio Caverzasi & Antoine Godin, 2013. "Stock-flow Consistent Modeling through the Ages," Economics Working Paper Archive wp_745, Levy Economics Institute, The.
- Edwin Le Heron, 2009. "Fiscal and Monetary Policies in a Keynesian Stock-Flow Consistent Model," GEMF Working Papers 2009-01, GEMF - Faculdade de Economia, Universidade de Coimbra.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marie-Celeste Edwards).
If references are entirely missing, you can add them using this form.