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Showing posts with label stock-flow consistency. Show all posts
Showing posts with label stock-flow consistency. Show all posts
Wednesday, February 12, 2020

Bill Mitchell — GDP is a flow and is the sum of the all expenditure flows over a given period

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I have two days of teaching left in Helsinki and my next stop on Friday is Dublin where I will be discussing unification and exit. Should b...
4 comments:
Thursday, January 17, 2019

Gennaro Zezza and Francesco Zezza — On the Design of Empirical Stock-Flow-Consistent Models

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While the literature on theoretical macroeconomic models adopting the stock-flow-consistent (SFC) approach is flourishing, few contribution...
Wednesday, June 20, 2018

sfc models — New working paper

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Modeling economic forces, power relations, and stock-flow consistency: a general constrained dynamics approach by Oliver Richters and Erhar...
Tuesday, February 20, 2018

erablogdotcom — Bank income and spending

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One of the most common difficulties many people encounter in understanding the mechanics of the financial system lies in their failure to u...
Friday, September 8, 2017

Steve Roth — Why Economists Don’t Know How to Think about Wealth (or Profits)

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MMT, SFC, NIPA, FFA, etc. Must-read. Longish and detailed. Weekend reading. Angry Bear Why Economists Don’t Know How to Think about Wealt...
2 comments:
Sunday, April 23, 2017

Brian Romanchuk — SFC Models And Introductory MMT-Style Fiscal Analysis

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The usefulness of Stock-Flow Consistent (SFC) models is that they allow us to illustrate concepts in economics without relying solely on ve...
2 comments:
Wednesday, August 10, 2016

Andrew Linton — On Loose definitions of Stock Flow Consistency

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No DGSE models cannot be called Stock-Flow Consistent. A correctly specified closed mathematical model will only have a ‘netting’ of flow...
2 comments:
Tuesday, August 9, 2016

Cameron K. Murray — Stock-flow confusion (wonkish)

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In his latest article, Noah Smith repeats a claim that has long bothered me: that mainstream economic models are “stock-flow consistent”. ...
Tuesday, May 10, 2016

Ramanan — Output At Home And Abroad

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Accounting identities are tautologies that say nothing about the world other than that the relevant accounts balance. As identities they a...
11 comments:
Friday, March 4, 2016

Ramanan — Stock-Flow Inconsistent? [Reply to Jason Smith]

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Ramanan replies to Jason Smith. The Case for Concerted Action Stock-Flow Inconsistent? V. Ramanan
1 comment:
Friday, August 23, 2013

David Ruccio — It’s the math again

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On the normative use of mathematics in economics as a rhetorical device for persuasion based on the logical fallacy of appeal to authority ...
29 comments:
Wednesday, July 3, 2013

INET — Matheus Grasselli: How Advanced Mathematics Can Support New Economic Thinking (video)

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This episode features Matheus Grasselli, Deputy Director of the Fields Institute for Research in Mathematical Sciences and Institute for Ne...
2 comments:
Friday, May 31, 2013

Dmytri Kleiner — Against the Quantity Theory of Money

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Joan Robinson frequently recounts that the great Michal Kalecki once exclaimed to her “I have found out what economics is; it is the scienc...
1 comment:
Friday, April 19, 2013

JW Mason — Aggregate Demand and Modern Macroeconomics

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This is where so many smart people I know end up. You have to use mainstream models -- you can't move the profession or help shape poli...
9 comments:
Sunday, March 31, 2013

Andrew Lainton schools Noah Smith on math and SFC

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Without a proper modelling of state DGSE is simply mathematically flawed, and to dismiss mathematically correct approaches as ‘physics en...
1 comment:
Monday, January 28, 2013

Philip Pilkington: Purging Economics of Religion – A Rebuttal to Robert Nelson’s Defence of The Great Chain of Being

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On several occasions I've referred to Robert Nelson's Economics as Religion: From Samuelson to Chicago and Beyond. Philip Pilkingto...
6 comments:
Thursday, April 19, 2012

Dirk Ehnts on the austerity fallacy

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Historical evidence says that austerity doesn’t work, and to my knowledge there is no theory that supports it either. You can, of course, u...
1 comment: