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Technical change and the monetary circuit: an input-output stock-flow consistent dynamic model

Author

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  • Marco Veronese Passarella

Abstract

This paper is organised as follows. Firstly, a simple but complete input-output stock-flow consistent dynamic model of a monetary economy of production is developed, in which credit money is endogenously created by commercial banks, the production sector is split into different industries, and unit prices align with their reproduction values in the long run, while supplies gradually adjust to meet final demands for products. Secondly, after discussing its key features, the model is used to test the impact of technical change on industry-specific financial requirements and profitability

Suggested Citation

  • Marco Veronese Passarella, 2023. "Technical change and the monetary circuit: an input-output stock-flow consistent dynamic model," Department of Economics University of Siena 903, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:903
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    File URL: http://repec.deps.unisi.it/quaderni/903.pdf
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    More about this item

    Keywords

    Monetary Circuit; Stock-Flow Consistent Models; Input-Output Analysis;
    All these keywords.

    JEL classification:

    • E16 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Social Accounting Matrix
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

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