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Marc Lavoie and Mario Seccareccia

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Marc Lavoie and Mario Seccareccia

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Marc Lavoie and Wynne Godley

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Marc Lavoie

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Marc Lavoie

This chapter presents the principles of the stock–flow consistent framework put forth by Wynne Godley. It offers an illustration of this framework using a simple growth model without government debt but with private money. It then presents some results achieved by running simulations with this model, to enlighten the controversies that have arisen around Minsky’s financial instability hypothesis.

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Marc Lavoie

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Marc Lavoie

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Marc Lavoie

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The State, the central bank and the monetary circuit

Banking and Financial Circuits and the Role of the State

Marc Lavoie