SFC sessions – FMM conference

After a first very fruitful workshop in Dijon (Going Further … Together: www.antoinegodin.eu/dijon) and a second venue in Limerick (Building a Common Language: www.antoinegodin.eu/limerick), which we hope to be highly stimulating, we will conclude this series of workshops in Berlin, during the FMM conference.

Indeed, two sessions (8 papers) will be dedicated to SFC modeling. We wish to remain within the areas described in the original call for papers (see attachment) and thus encourage papers addressing the following topics:
•    The theory of employment and unemployment
•    Possibilities and limitations of monetary and fiscal policy
•    Labor market institutions, active labor market policies, and decent jobs
•    Industrial policy, productivity and outsourcing
•    Green jobs and limits to growth
•    Working time and employment in a stagnating economy

However, papers treating other subjects related to the call for papers of the first two workshops (empirics, micro foundations, policy recommendation) will also be considered. Please note that all papers will be forwarded to the conference organizers should they decide to include SFC models in other sessions. Furthermore, more than one paper per author may be proposed, either via this call for paper or via the conference call for paper (fmm@boeckler.de).

The deadline for paper proposals is 30 June 2013. Please send an abstract (one page) to godin.antoine@gmail.com. Decisions will be made in early August. Registration forms for the introductory lectures and the conference will be made available online in mid-August. Accepted papers should be sent by 15 October to be posted on the conference web page.

Selected papers might be published after the conference in a special issue of the European Journal of Economics and Economic Policies: Intervention (EJEEP) dedicated to SFC modeling.

Visit the conference website for udpdates: http://www.boeckler.de/35334_42480.htm

Building a common language for Stock Flow Consistent Macro Models

SFC Workshop, Kemmy Business School, University of Limerick, 26-27 of August 2013

After a first very fruitful workshop in Dijon, we now turn to a second workshop in Limerick.

A wide variety of approaches, methodologies and topics were presented during the first workshop, allowing for interesting discussions and exchanges. Clearly, the complementarities of the Stock-Flow Consistent and Agent-Based approaches emerged, even if some were sceptical at first. Furthermore, the topics and issues addressed by papers from both methodologies are similar. On the methodology side, SFC and ABM practitioners share issues regarding estimation or the role of expectations.  The influence of finance, fiscal austerity and the construction of the euro zone are at the hart of applied work from both approaches.

This workshop also showed us the importance of getting together and confronting our analysis and results. The need to develop a common language surfaced. We will target this workshop, held at the University of Limerick, Ireland, to begin to work towards a common language for the posing of problems and the discovery of solutions to those problems.

Call for paper

We encourage papers building bridges between SFC and ABM methodologies. However any paper treating on either of the methodologies will be considered, as the goal is also to get together. The deadline for paper proposals is 30 June 2013. Please send an abstract (one page) to godin.antoine@gmail.com. Decisions will be made by mid-July.


Hotel costs will be covered for all participants. Transportation costs will be covered for some participants (especially Ph.D. students), if requested when submitting a paper.

Stephen Kinsella

Antoine Godin

SFC Workshops – Going further … together

Dear all, the doodle gave its verdict for the Dijon venue: we will have the opportunity to set up a new collaboration between SFC practitioners on May 2 and 3. Those without any background but interested in the methodology and the functioning of this kind of modeling are also welcome.

Call for paper

In the first document we tried to classify the purposes of the meetings. However it was probably too ambitious seeking to structure the three workshops by topics: 1) state of art, 2) empirical issues and 3) theoretical aspects.

All those aspects are relevant and such that structuring the workshops is not required. The goal is to create a sustainable international collaboration between the researchers with more or less experienced but converging toward the same direction: the improvement of the SFC modeling framework in order to get forward in understanding the real world and provide alternative policy recommendations based on a robust diagnosis. Accordingly, the papers proposed should address any relevant theme aiming to achieve this goal.


The deadline for the submission of paper is March 10. The proposals, under the form of an extended abstract of 2 pages must be sent either to Antoine Godin (godin.antoine@gmail.com) or to Mickaël Clévenot (clevenot.mickael@gmail.com). For any logistical questions, contact M. Clévenot.

We intend to support transport costs or accommodation fees, or both costs depending on the number of participants. Note that only those who submit a paper within the deadline will obtain financial support. Of course any person interested in the workshop is welcome, at its own expenses. There is no participation fee.

The papers must be sent one month before the workshop so that other participants may read them, the papers will be uploaded on the sfc-models.net website. The papers may still be preliminary versions. Traditional sessions will be organized with a discussant. We will require all participants to be a discussant.

More informal sessions as round-table will be organized on the methodology and on the topics you want to address. For this purpose, let us know your wishes as soon as possible. This workshop is ours; it is up to us to make it a lever to move forward together.

To insure a wider diffusion of the ideas developed during the workshop, some sessions might be broadcasted on the internet.

Expecting you numerous, motivated, in a spirit of sharing.

M. Clévenot

A. Godin

Joining sfc-models.net

Anybody interested in contributing to the discussion on stock-flow-consistent modeling is very welcome to join us.
However, to avoid a growing number of fake registration, you should email the administrator if you wish to get a user id on this web site. Thank you!


INET has organized a very interesting workshop on stock-flow-consistent (SFC) models and agent based models (ABM).

A new paper

Yannis Dafermos (2012) “Liquidity preference, uncertainty, and recession in a stock-flow consistent model”, Journal of Post Keynesian Economics, 34 (4), 749-776.

DOI: 10.2753/PKE0160-3477340407
This paper develops a stock-flow consistent model that explicitly integrates the role of liquidity preference and perceived uncertainty into the decision-making process of households, firms, and commercial banks. Emphasis is placed on (1) the link between the precautionary motive and the asset choice of the private sector, (2) the effect of perceived uncertainty on the desired margins of safety and borrowing, and (3) the impact of financial obligations on the liquidity preference of households and firms. Performing a simulation experiment, the paper illuminates the channels through which a rise in perceived uncertainty is likely to set off a recessionary process.
Keywords: liquidity preference, perceived uncertainty, recessionary process, stock-flow consistent modeling

SFC modeling in Paris

At the Conference on Political Economy and the outlook for capitalism there will be several sessions on stock-flow models.
Papers listed in the program include:
Michael Clévenot, Jacques Mazier and Yann Guy, Estimation et simulation d’un régime de croissance financiarisée avec un modèle SFC
Edwin Le Heron and Toussaint Bakala, Generalized liquidity preference theory in a SFC model and financial crisis
Amine Marouane, La révolution tunisienne: enjeux et perspectives à partir d’un modèle SFC
James Juniper, Modern Money Theory (MM) and Minsky: Towards a Stock-flow-Consistent (SFC) Synthesis
Stefano Lucarelli, A Stock-Flow Analysis of a Schumpeterian Innovation Economy: The Role of Knowledge(s) in the Economic Development
Vincent Duwicquet and Jacques Mazier, Ajustement et redistribution en union monétaire
Marc Lavoie, Le modèle SFC à trois pays et deux banques centrales à la lumière de la crise de la zone euro
Jamel Saadaoui, Modèle SFC à deux pays avec financiarisation et changes flexibles
Pascal Seppecher, em>Agents hétérogènes et monnaie endogène dans un modèle SFC
Alessandro Caiani, Stefano Lucarelli and Antoine Godin, Schumpeter in a matrix: a Stock Flow Consistent analysis of technological change
Tarik Mouakil, A Minsky Crisis in a Stock-Flow Consistent Model
Ahmed Hammadache and Vincent Duwicquet, Prix pétroliers et déséquilibres internationaux avec l’apport d’un modèle SFC
Stephen Kinsella and G. Tiou-Tagba Aliti, Simulating the impact of austerity on the irish economy using a stock-flow consistent model
Gennaro Zezza, Using SFC models for the analysis of European economies
Antoine Godin, Green Jobs for full employment, a Stock Flow Consistent analysis

It looks like the largest gathering of SFC modeler so far!