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This paper presents, with pedagogical aims, the Godley–Lavoie approach to building a Post-Keynesian stock-flow-consistent model, finding its solution, and performing simulations using E-views software. By doing so, we seek to contribute to the literature in three ways: first, presenting to the reader an accessible description of the procedures adopted by the experts; second, spreading among students and researchers a heterodox macroeconomic approach; third, showing that the accounting models are more precise to analyze the economic reality and represent an alternative to simulate the interaction between real and financial markets

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  • Christian De la Luz-Tovar

    (N/A)

Abstract

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Suggested Citation

  • Christian De la Luz-Tovar, 2022. "This paper presents, with pedagogical aims, the Godley–Lavoie approach to building a Post-Keynesian stock-flow-consistent model, finding its solution, and performing simulations using E-views softwa," Advances in Economics Education, Edward Elgar Publishing, vol. 1(1), pages 135-157, November.
    • Handle: RePEc:elg:aeejrn:v:1:y:2022:i:1:p135-157
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    Keywords

    stock-flow consistency; accounting models; macroeconomic models; Post-Keynesian economics;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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