 Working Papers | July 2008 The Keynesian Roots of Stock-flow Consistent Macroeconomic Models Peering Over the Edge of the Short Period
This paper argues that institutionally rich stock-flow consistent models—that is, models in which economic agents are identified with the main social categories/institutional sectors of actual capitalist economies, the short period behavior of these agents is thoroughly described, and the “period by period” balance sheet dynamics implied by the latter is consistently modeled—are (1) perfectly compatible with John Maynard Keynes’s theoretical views, (2) the ideal tool for rigorous post-Keynesian analyses of the medium run, and (3) therefore crucial to the consolidation of the broad post-Keynesian research program.
Publication(s):
View all associated program(s) publications:
The State of the U.S. and World Economies
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Author(s):
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| Antonio Carlos Macedo e Silva |
| Claudio H. Dos Santos |
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