INET’s Young Scholar Initiative has created, under the suggestion of Neil Lancastle and Jay Pocklington, a virtual reading group of SFC models as well as of Godley and Lavoie’s Monetary Economics. If you’re interested, send me an email and I’ll invite you to the groups.
On the second day we introduce an investment function and explore model properties by shocking parameters. Lab Files #2
Rename the .txt file to .prg to run it into Eviews
Finally we prepare a more complex accounting structure for the last lab exercise (excel file)
In the first day at the stock-flow lab at the Minsky Summer Seminar we show how to build a very simple model. Files from Class #1
We note that although the accounting is consistent, the model structure is inconsistent since the stock of capital is growing while gdp converges to a steady state.
Warning for those who already downloaded the zip file! The program file I published yesterday was incomplete. I have now updated it, please download it again.
The Levy Institute organizes the 2012 Minsky Summer Seminar, which will include a rich series of lectures on financial balances, stock-flow consistent models, and a stock-flow lab. We will publish teaching materials from the lab later on.
The stock-flow lab at the Minsky Summer School was a success, according to my personal view…
Some students asked me to make materials availble on the web, since we did not use the readily available programs I had previously published, and I have therefore created a Walk-trough for what we did during the three days.
Students attending were great, keeping their attention to the last minute of the lab, even after a long working day.
I have been invited to give a course on sfc models in Pavia (Dec.14-16), along with a seminar on the current financial crisis (my slides, in Italian, are here). Here are the slides I used to introduce the course. The course developed a simple sfc-model from the very beginning:
For who is interested in empirical stock-flow-consistent models, I prepared some Eviews programs with comments, which can be downloaded from my teaching platform here.
Register, and request enrollment to the course “Intoduction to macroeconometric models”