Technical change and the monetary circuit: an input-output stock-flow consistent dynamic model

Marco Veronese Passarella

Department of Economics University of Siena from Department of Economics, University of Siena

Abstract: This paper is organised as follows. Firstly, a simple but complete input-output stock-flow consistent dynamic model of a monetary economy of production is developed, in which credit money is endogenously created by commercial banks, the production sector is split into different industries, and unit prices align with their reproduction values in the long run, while supplies gradually adjust to meet final demands for products. Secondly, after discussing its key features, the model is used to test the impact of technical change on industry-specific financial requirements and profitability

Keywords: Monetary Circuit; Stock-Flow Consistent Models; Input-Output Analysis (search for similar items in EconPapers)
JEL-codes: C67 D57 E16 E17 (search for similar items in EconPapers)
Date: 2023-09
New Economics Papers: this item is included in nep-hme and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:usi:wpaper:903

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