I’m still a bit hazy about the time periods though, As I understand it the time periods are not to be given any particular significance.

So for a given ‘spend’ by Govt you have a multiplier effect acting on consumption, wealth, taxes, disposable income and National income (SIM model) that all coverge to a steady state value because of the inclusion of a propensity to consume (or accumulate wealth) factor in the consumption function based on the results of the previous, for want of a better word, ‘iteration’

Have I got that right ?

Thanks

]]>The Excel spreadsheets for the model PC are perfect. I wait with impatience the Chapter 5. Thank you again for this very useful and pedagogic exercise for students like me.

Best wishes,

Jamel

]]>Thank you very much for your careful reading of my model in Excel. You are right in your comments, and I think the most important is the point three, because it affects to one of the graphs (I will correct the other two “spellings” as well as… it is one of the problems of the translation!) I will correct them and then re-upload the files.

I am looking forward for your comments of Chapter 4. I hope to upload the Chapter 5 in coming weeks.

Best regards,

Javier

]]>Thank you again for these spreadsheets, they are very useful to illustrate the book.

I have three little remarks on the ModelSIM Excel spreadsheets.

First, the comment in cell L7 is written in Spanish in the ‘SIMEX model’ sheet.

Second, the name of the black curve in the graph 3.5 is in Spanish in the ‘SIMEX graph’ sheet.

Third, the national income Y should be come from the ‘SIMEX 2 simulation’ sheet where the excepted disposable income is constant in the graph 3.6 in the ‘SIMEX graph’ sheet.

Maybe I’m wrong ?

Best Wishes,

Jamel

]]>Thank you very much for your post. I hope you find them useful. I am also doing the spreadsheets of Chapter 5 and Chapter 9, mainly because I have translated the book to Spanish, and I am the responsible to build these models (the Spanish version is an abridged one with not all of the models). Any suggestions you have they will be welcome.

Best regards,

Javier

]]>I want to thank you for having posted these Excel spreadsheets. I think they will be very helpful to understand the chapter 3 and 4 of the book “Monetary Economics”.

I’m currently reading this book.

Jamel Saadaoui

PhD candidate at the University of Paris North

]]>There is a researcher that made stock flow consistent models with the system dynamics (SD) software in his Phd thesis: Eric Tymoigne, a french researcher but which has made his research under the supervision of Randy Wray at Kansas City University. Now he has a position of Assistant Professor at the Department of Economics of Lewis and Clark College (615 S.W. Palatine Hill Road Portland, OR 97219). You can contact Eric: etymoigne@lclark.edu

In a conference in Bordeaux (France) in 2008, we made some links between the SD approach and the SFC under E-views.

Sincerely,

Edwin Le Heron

]]>I will be interested in your approach. On the equations which set-up the dynamics.

You can find a nice essay about SFC by Claudio Dos Santos here :

Three Essays In Stock Flow Consistent Macroeconomic Modelling

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