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Government originating and closing the circuit

In: A Modern Guide to State Intervention

Author

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  • Romar Correa

Abstract

Correa uses the classic book, Godley and Lavoie’s Monetary Economics, which is close in letter and spirit to the circuit approach in the scrupulous attention paid to national income accounting, bringing the systems approach to Godley and Lavoie’s sub-models, following their practice, and expressing his concern with the stability of different mixes. Correa incorporates a class orientation to fiscal policy, following the appeal of the stock–flow-consistent modelling strategy.

Suggested Citation

  • Romar Correa, 2019. "Government originating and closing the circuit," Chapters, in: Nikolaos Karagiannis & John E. King (ed.), A Modern Guide to State Intervention, chapter 10, pages 210-220, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19170_10
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