A Winter school on AB and SFC models

Applied Macro-Modelling: Fully Scalable Models – 2nd Edition

Winter School On Agent Based And Stock Flow Consistent Modelling
Limerick, January 26th – February 3th

Why You Should Join Our Winter School

If you are a highly motivated student of economics at master or Ph.D. level, or you are working with a research center or a public institution and want to spend one week studying, researching, discussing, and exchanging experiences in the nice atmosphere of an Irish University campus nurtured by international experts and fellow students from all around the world, our winter school offers you:

One-week winter university with international students and lecturers.
An opportunity to produce and confront research outputs such as thesis chapter or working paper with established scholars.
Lab modules, to learn how to implement and apply the theoretical models using software like R, Java.
Social activities

Info: s120.ul.ie/drupal/winterSchool2015

Files from SF lab, day #2

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)

Stock-flow models lab at Levy

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.

Stock-flow lab at the Minsky Summer Seminar

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.

Files available:

  • Course on sfc models in Pavia

    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:

    Eviews models are available here. They include

    • model1: a simple sfc model with banks. Income distribution is fixed, investment growth is given. The hidden equation is deposits = loans
    • model2: same as model 1, but with more reasonable values for capital depreciation, so that all stocks have reasonable values
    • model3: first attempt to introduce a price for equities and portfolio choice between equities and deposits, but the accounting is wrong…
    • model4: as model 3, but the accounting (for the demand for loans) has been fixed
    • model5: as model 4, with a better specification for expected wealth
    • model6: investment growth now depends on capacitiy utilization and the cost of borrowing
    • model7: endogenous price level, accounting at constant and current prices

    The next logical step would be to introduce a Phillips curve…

    An introduction to empirical SFC modeling

    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”