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Assessing some structuralist claims through a stock-flow framework


  • Marc Lavoie

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, University of Ottawa [Ottawa])


The principles of the framework put forth by Wynne Godley are being presented. In the second section, an instance of the framework is offered, based on a simple growth model without government debt but with private money. In the third section, some results achieved by running simulations with this model are being presented to enlighten the controversies that have arisen around Minsky’s financial fragility hypothesis. In the fourth section, some of the results achieved by Godley (1999) are being recalled, and some implications with regards to further debates are being drawn.

Suggested Citation

  • Marc Lavoie, 2016. "Assessing some structuralist claims through a stock-flow framework," Post-Print hal-01343648, HAL.
  • Handle: RePEc:hal:journl:hal-01343648
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    References listed on IDEAS

    1. Dorobantu, Maria Roxana & Nistoreanu, Puiu, 2012. "Rural Tourism and Ecotourism – the Main Priorities in Sustainable Development Orientations of Rural Local Communities in Romania," MPRA Paper 31480, University Library of Munich, Germany.
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