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.
An interview with Marc Lavoie
Philip Pilkington is publishing a very interesting interview with Marc Lavoie on Monetary economics
Stock-flow modeling at the Levy
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.
Back on-line
The web site was hacked, probably exploiting a weakness in the wordpress theme we adopt. Problems should have been resolved now.
From Gabor Kurthy
Received from Gabor Kurthy (Corvinus University, Budapest)
“I’d like to contribute to the sfc-models.net page by sending the solution of model REG (pp.: 170-186).
In the PDF file you will find the solution of the model. If you are interested, I can send you a more detailed paper that contains the steps of the solution and some analysis as well (I haven’t translated that paper yet).
In the Excel file you will find the model: I wrote three macros to
(1) compute different steady states by changing the parameter set (policy variables included)
(2) see the evolution from state zero to the steady state (parameters and policy variables can be changed)
(3) see the effects of different shocks after changing the parameters or the policy variables.
I hope that you will find it useful.”
Economia monetaria
The Spanish translation of Godley – Lavoie Monetary economics, Economia Monetaria, has come out.
Godley – Lavoie models in Excel
Javier López Bernardo has contributed a new model in spreadsheet form from Chapter 4 of Monetary economics. It is available here in English or Español.