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A foxy hedgehog: Wynne Godley and macroeconomic modelling

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  • Lance Taylor

Abstract

Wynne Godley has made enormous contributions to macroeconomic modelling. They are reviewed here in connection with his recent book with Marc Lavoie, Monetary Economics: An Integrated Approach to Credit, Money, Income, Production, and Wealth. Copyright The Author 2008. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

Suggested Citation

  • Lance Taylor, 2008. "A foxy hedgehog: Wynne Godley and macroeconomic modelling," Cambridge Journal of Economics, Oxford University Press, vol. 32(4), pages 639-663, July.
  • Handle: RePEc:oup:cambje:v:32:y:2008:i:4:p:639-663
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    File URL: http://hdl.handle.net/10.1093/cje/ben017
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    References listed on IDEAS

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    1. Block, Thorsten H., 2002. "Economic stagnation in Weimar Germany: a structuralist perspective," Structural Change and Economic Dynamics, Elsevier, vol. 13(2), pages 127-150, June.
    2. Codrina Rada & Lance Taylor, 2004. "Empty Sources of Growth Accounting, and Empirical Replacements à la Kaldor with Some Beef," Economia, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 5(3), pages 45-74.
    3. Chiarella,Carl & Flaschel,Peter & Franke,Reiner, 2011. "Foundations for a Disequilibrium Theory of the Business Cycle," Cambridge Books, Cambridge University Press, number 9780521369923, May.
    4. Morris A. Copeland, 1952. "A Study of Moneyflows in the United States," NBER Books, National Bureau of Economic Research, Inc, number cope52-1.
    5. Kriesler, P & McFarlane, B, 1993. "Michal Kalecki on Capitalism: Review Article," Cambridge Journal of Economics, Oxford University Press, vol. 17(2), pages 215-234, June.
    6. Nelson H. Barbosa-Filho & Lance Taylor, 2006. "Distributive And Demand Cycles In The Us Economy-A Structuralist Goodwin Model," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 389-411, July.
    7. R. L. Hall & C. J. Hitch, 1939. "Price Theory And Business Behaviour," Oxford Economic Papers, Oxford University Press, vol. 0(1), pages 12-45.
    8. Cripps, T Francis & Godley, Wynne A H, 1976. "A Formal Analysis of the Cambridge Economic Policy Group Model," Economica, London School of Economics and Political Science, vol. 43(172), pages 335-348, November.
    9. Taylor, Lance & Lysy, Frank J., 1979. "Vanishing income redistributions : Keynesian clues about model surprises in the short run," Journal of Development Economics, Elsevier, vol. 6(1), pages 11-29, February.
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    Citations

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    Cited by:

    1. Peter G. Fennell & David O'Sullivan & Antoine Godin & Stephen Kinsella, 2014. "Visualising stock flow consistent models as directed acyclic graphs," Papers 1409.4541, arXiv.org.
    2. Bianco, Antonio, 2015. "Relationship Banking, Shadow Banking, and the Economics of Depression," MPRA Paper 65849, University Library of Munich, Germany.
    3. Lengnick, Matthias & Krug, Sebastian & Wohltmann, Hans-Werner, 2013. "Money creation and financial instability: An agent-based credit network approach," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 7, pages 1-44.
    4. Steve Keen, 2013. "Predicting the ‘Global Financial Crisis’: Post-Keynesian Macroeconomics," The Economic Record, The Economic Society of Australia, vol. 89(285), pages 228-254, June.
    5. Sarlin, Peter & Ramsay, Bruce A., 2014. "Ending over-lending : Assessing systemic risk with debt to cash flow," Research Discussion Papers 11/2014, Bank of Finland.
    6. Antonio Bianco, 2015. "Shadow banking, relationship banking, and the economics of depression," PSL Quarterly Review, Economia civile, vol. 68(275), pages 297-326.
    7. Richters, Oliver, 2015. "Integrating Energy Use into Macroeconomic Stock-Flow Consistent Models," EconStor Theses, ZBW - German National Library of Economics, number 154764.
    8. Sarlin, Peter & Ramsay, Bruce A., 2015. "Ending over-lending: assessing systemic risk with debt to cash flow," Working Paper Series 1769, European Central Bank.
    9. Bill Martin, 2009. "An Augmented UK Private Expenditure Function," Working Papers wp384, Centre for Business Research, University of Cambridge.

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