Regime-Changes in a Stock-Flow-Consistent Model
We explore the dynamical properties of the Godley-Lavoie model with a focus on Central Bank horizons. The stability properties of modes of regulation are traced from a regime of private bank money to the current crisis with the Central Bank levers of short-term bonds issue to the emerging policy regime of long-term bonds as built-in stabilizers.
Volume (Year): 8 (2010)
Issue (Month): 1 ()
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