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A Dynamic Stock-Flow Model for the Argentine Economy

Gabriel Michelena ()
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Gabriel Michelena: Central Bank of Argentina

No 202189, BCRA Working Paper Series from Central Bank of Argentina, Economic Research Department

Abstract: This document develops a Consistent Stock-Flow (SFC) model for the analysis of macroeconomic variables in Argentina. The main utility of SFC models is associated with the possibility of performing counterfactual exercises to evaluate different modifications of fiscal, tax, monetary and commercial policy. These models are characterized by the use of social accounting matrices (SAM), which allows a breakdown of the capital account and financial instruments of each institutional sector. This improves accounting consistency, since the SAM contains the main transactions of the real sector, as well as the monetary flows between the different institutions: households, companies, banks, government, central bank and the rest of the world. This model was developed with the objective of making medium-term projections on the main flows and stocks of the Argentine economy, complementing the results of other existing models in the literature.

Keywords: monetary policy; simulations; stock-flow model (search for similar items in EconPapers)
JEL-codes: C54 E16 E58 (search for similar items in EconPapers)
Pages: 61 pages
Date: 2021-02
New Economics Papers: this item is included in nep-cba, nep-cmp and nep-mac
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