Regime-Changes in a Stock-Flow-Consistent Model

Romar Correa

Interdisciplinary Description of Complex Systems - scientific journal, 2010, vol. 8, issue 1, pages 24-33

Abstract: We explore the dynamical properties of the Godley-Lavoie model with a focus on Central Bank horizons. The stability properties of modes of regulation are traced from a regime of private bank money to the current crisis with the Central Bank levers of short-term bonds issue to the emerging policy regime of long-term bonds as built-in stabilizers.

Keywords: financial crises; long-term bonds (search for similar items in EconPapers)
JEL-codes: E12 E42 (search for similar items in EconPapers)
Date: 2010
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