The text Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie is cited heavily within the sfc_models framework. This text is a standard text for SFC modelling, and has already been the object of extensive modelling. The fact that the models are well known is extremely useful from the point of view of development. These existing models were used to calibrate the sfc_models code.
(This article is an unedited draft of a section from my upcoming book "Introduction to SFC Models with Python.")Bond Economics
The Relationship Between sfc_models And Godley And Lavoie
Brian Romanchuk
17 comments:
And Matt, you're one of the worse offenders.
@MRW
I usually agree about spelling things out for newbies, but Brian's post was clearly for people that are into Godley &Lavoie's Monetary Economics, which is based on stock-flow consistent accounting models, and who are also into Python. When something is obviously wonkish, it is only going to appeal to wonks that are into this. I think you are being overzealous here.
I send newbies here, Tom. And it is a time-honored editorial practice to identify the first usage of an acronym, even in scholarly journals.
Hey I resemble that remark!
MRW Brian is using the language of STEM ... not everybody is trained in STEM I get it but we can't "dumb it down" ... we HAVE BEEN dumbing it down and THAT is what has been getting us nowhere...
But don't you think many people would tune out because of all of what they think is just technical geeky mumbo jumbo, Matt? There has to be a balance between not watering the concepts down and giving people an understanding of why this piece or concept goes with that concept and what it means for their standard of living.
You have to be seen to make deterministic projections and then those projections turn out to be true ... then you receive technical credibility...
MRW,
I was tied up, and did not see these comments.
SFC models = stock-flow consistent models. Since this was an excerpt from the middle of a book about SFC models, it did not spell out the aceonym. I normally try to spell out abbreviations, but missed that. I am in the middle of a few projects, and so did not have a lot of time to edit that post to be more stand alone.
I have a primer on my web site on SFC models, but did not link to it.
As for what it means in real world terms, it's my preferred modelling technique. Beyond that, it's a long answer.
Where is Brian threatening somebody here? What the fuck are you talking about? I am only making an argument for identifying acronyms, or internet slang, properly.
Ironically, MRW's screen name is an acronym
It stands for Martin Robert Wales. My family even calls me MRW. It's a thing.
Sometimes, M.R.
Most of the time: M.R. Dub.
Nice to meet you, Martin. I try to learn from your takes on science; they are definitely outside my fields of expertise.
The MR Dub grew out of a family joke. I basically lived at A & W (pronounced Aye and Dub) in high school. Loved their burgers. Loved their suds. [I didn't drink Coke but I loved A & W Root Beer, the best.] For non-Americans, A & W is an American burger franchise that features Mama, Papa, and Baby burgers. I don't know if they are international like McDonald's. But ubiquitous in US.
Thanks, Six.
Post a Comment