 Stock-Flow Consistent Model with Repayment of Bank Loans Used to Finance Past InvestmentsEdouard Cottin-Euziol and
Nicolas Piluso (nicolas.piluso@iut-tlse3.fr)
Post-Print from HAL Abstract: Stock-flow consistent modelling (SFC) is currently one of the most active fields of research in post-Keynesian macroeconomics. SFC models make it possible to study the dynamics of a monetary economy of production within a consistent accounting framework. However, with some rare exceptions, SFC models do not take into account the repayment of bank loans used to finance business investments. It is assumed that these investments are financed by perpetual loans or by constant turnover. In this article, we reject this assumption and build a model based on recent studies, in which firms repay part of their past debt in each period. We then study the dynamics of this model. The results obtained indicate that the dynamics of an SFC model is significantly affected by taking these repayments into account. Keywords: SFC modelling; monetary economy of production; repayment of past bank loans (search for similar items in EconPapers) Published in Review of Political Economy, 2021, 35 (2), pp.454-475. ⟨10.1080/09538259.2021.1947659⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03779741 DOI: 10.1080/09538259.2021.1947659 Access Statistics for this paper More papers in Post-Print from HAL |
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