EconPapers    
Economics at your fingertips  
 

Kaleckian Models of Growth in a Stock-Flow Monetary Framework: A Neo-Kaldorian Model

Marc Lavoie and Wynne Godley
Additional contact information
Wynne Godley: The Jerome Levy Economics Institute

Macroeconomics from University Library of Munich, Germany

Abstract: This paper presents a simple growth model grounded in a stock-flow monetary accounting framework. The framework ensures that all stocks and flows are accounted for and that the real and financial sides of the economy are coherent with one another. Credit, money, equities, and stocks of real capital link periods of time with one another in articulated sequences. Wealth is allocated between assets on Tobinesque principles but no equilibrium condition is necessary to bring the "demand" for money into equivalence with its "supply." Growth and profit rates, as well as valuation, debt, and capacity utilization ratios, are analysed using simulations in which a growing economy is assumed to be shocked by changes in interest rates liquidity preference, real wages, and the parameters that determine how firms finance investment.

JEL-codes: E12 E40 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2000-10-25
Note: Type of Document - Adobe Acrobat PDF; prepared on IBM PC; to print on PostScript; pages: 22; figures: included
References: Add references at CitEc
Citations: View citations in EconPapers (24)

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0004/0004049.pdf (application/pdf)

Related works:
Working Paper: Kaleckian Models of Growth in a Stock-Flow Monetary Framework: A Neo-Kaldorian Model (2000) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0004049

Access Statistics for this paper

More papers in Macroeconomics from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA (volker.schallehn@ub.uni-muenchen.de).

 
Page updated 2024-12-29
Handle: RePEc:wpa:wuwpma:0004049