نوع مقاله : مقاله پژوهشی
عنوان مقاله English
نویسندگان English
In recent years, stock flow consistent models (SFC) have been receiving considerable attention from economists, especially Post-Keynesian economists.In recent years SFC models’ capability in prediction of economic crisis in 2008 along with the publication of a book entitled Monetary Economics, by Wynne Godley and Marc Lavoie turned a new light on the importance of these models. These models use accounting approach for economic modeling and provides a framework for treating the financial and the real sides of the economy in an integrated way and predict endogenous shocks. Moreover, to describe the behavior of economic agents, SFC models take the advantage of behavioral equation. The purpose of this study is to explain the fundamentals of SFC models and to employ them for assessment of monetary and fiscal policy. Considering the fact that the SFC models can be developed using distinctive approaches, we structured a SFC model employing Neoclassic and Post-Keynesian and calculating steady state, to analyze the impact of monetary and fiscal policy within the framework of the developed model.
کلیدواژهها English
Tobin, J. (1981). Money and Finance in the Macro-Economic Process. Prize Lecture to the Memory of Alfred Nobel, December 8, 1981, Nobel Prize Committee.