Assessing some structuralist claims through a stock-flow framework

Marc Lavoie

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Abstract: The principles of the framework put forth by Wynne Godley are being presented. In the second section, an instance of the framework is offered, based on a simple growth model without government debt but with private money. In the third section, some results achieved by running simulations with this model are being presented to enlighten the controversies that have arisen around Minsky's financial fragility hypothesis. In the fourth section, some of the results achieved by Godley (1999) are being recalled, and some implications with regards to further debates are being drawn.

Keywords: stock flow consistency; Wynne Godley; financial fragility hypothesis (search for similar items in EconPapers)
Date: 2016
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Published in L.P. Rochon and S. Rossi. Advances in Endogenous Money Analysis, Edward Elgar, 2016

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01343648

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