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Countercyclical Fiscal Policy and the Paradox of Debt: The Principles of the Stock Flow Consistent Model

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  • Yuki Tada

Abstract

This article discusses countercyclical fiscal policy, the paradox of debt, and the principles of stock-flow consistent models.

Suggested Citation

  • Yuki Tada, 2023. "Countercyclical Fiscal Policy and the Paradox of Debt: The Principles of the Stock Flow Consistent Model," Bulletin of Political Economy, Bulletin of Political Economy, vol. 17(1), pages 5-45, June.
    • Handle: RePEc:awu:journl:v:17:y:2023:i:1:p:5-45
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    References listed on IDEAS

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    1. Roberto Veneziani & Luca Zamparelli & Michalis Nikiforos & Gennaro Zezza, 2017. "Stock-Flow Consistent Macroeconomic Models: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1204-1239, December.
    2. Hyman P. Minsky, 1980. "Capitalist Financial Processes and the Instability of Capitalism," Journal of Economic Issues, Taylor & Francis Journals, vol. 14(2), pages 505-523, June.
    3. Yannis Dafermos, 2018. "Debt cycles, instability and fiscal rules: a Godley–Minsky synthesis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(5), pages 1277-1313.
    4. Eckhard Hein & Christian Schoder, 2011. "Interest rates, distribution and capital accumulation -- A post-Kaleckian perspective on the US and Germany," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(6), pages 693-723, November.
    5. Skott,Peter, 2008. "Conflict and Effective Demand in Economic Growth," Cambridge Books, Cambridge University Press, number 9780521066310.
    6. E. Stockhammere & J. Michell, 2017. "Pseudo-Goodwin cycles in a Minsky model," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(1), pages 105-125.
    7. Eckhard Hein & Till Van Treeck, 2010. "Financialisation and Rising Shareholder Power in Kaleckian/Post-Kaleckian Models of Distribution and Growth," Review of Political Economy, Taylor & Francis Journals, vol. 22(2), pages 205-233.
    8. Marc Lavoie, 2014. "Post-Keynesian Economics: New Foundations," Post-Print hal-01343652, HAL.
    9. Nikolaidi, Maria, 2014. "Margins of safety and instability in a macrodynamic model with Minskyan insights," Structural Change and Economic Dynamics, Elsevier, vol. 31(C), pages 1-16.
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