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The Evolution and Diversification of Stock-Flow Consistent Modelling: A Bibliometric Review

Author

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  • Francisco Orlando Rosales; Grace Yolanda Llerena; Giuliano Toshiro Yajima; Fernando Martin-Mayoral

Abstract

This paper presents a bibliometric analysis of the Stock-Flow Consistent (SFC) literature from 1975 to 2026. The corpus includes 479 publications from Scopus, Web of Science, and expert-guided screening. Building on the classification proposed by Nikiforos and Zezza (2017), using keyword-based classification and manual validation, the paper maps the evolution of five major research areas: extensions of the core SFC framework, open-economy models, empirical SFC models, ecological SFC models, and SFC-agent–based models. The results show a clear expansion of the literature after the Global Financial Crisis, followed by further acceleration after 2017. Recent growth is especially visible in empirical and ecological SFC applications, as well as in works combining multiple research areas. The journal mapping also shows that, while SFC research remains strongly rooted in heterodox economics outlets, it has increasingly expanded into interdisciplinary and non-traditional journals. The paper contributes by updating the 2017 survey and documenting the diversification and broader diffusion of SFC research.

Suggested Citation

  • Francisco Orlando Rosales; Grace Yolanda Llerena; Giuliano Toshiro Yajima; Fernando Martin-Mayoral, 2026. "The Evolution and Diversification of Stock-Flow Consistent Modelling: A Bibliometric Review," Economics Working Paper Archive wp_1126, Levy Economics Institute.
    • Handle: RePEc:lev:wrkpap:wp_1126
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    Keywords

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    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications

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