TITLE

Peering over the edge of the short period? The Keynesian roots of stock-flow consistent macroeconomic models

AUTHOR(S)
e Silva, Antonio Carlos Macedo; Santos, Claudio H. Dos
PUB. DATE
January 2011
SOURCE
Cambridge Journal of Economics;Jan2011, Vol. 35 Issue 1, p105
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This work argues that institutionally rich stock-flow consistent models—i.e. models in which economic agents are identified with the main social categories/institutional sectors of actual capitalist economies, the short-period behaviour of these agents is thoroughly described, and the ‘period by period’ balance sheet dynamics implied by the latter is consistently modelled—are (i) perfectly compatible with Keynes’ theoretical views, (ii) the ideal tool for rigorous post-Keynesian analyses of the medium run and, therefore, (iii) crucial to the consolidation of the broad post-Keynesian research programme.
ACCESSION #
57319407

 

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