A SIMPLIFIED, 'BENCHMARK', STOCK-FLOW CONSISTENT POST-KEYNESIAN GROWTH MODEL

Despite being arguably one of the most active areas of research in heterodox macroeconomics, the study of the dynamic properties of stock-flow consistent (SFC) growth models of financially sophisticated economies is still in its first steps. This paper attempts to offer a contribution to this line of research by presenting a simplified SFC Post-Keynesian growth model with well-defined dynamic properties and using it to shed light on the merits and limitations of the current heterodox SFC literature. Copyright © 2008 The Authors. Journal compilation © 2008 Blackwell Publishing Ltd.