Edited by Louis-Philippe Rochon and Sergio Rossi
Chapter 16: Assessing some structuralist claims through a coherent stock–flow framework
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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