This paper investigates the implications of the European Union's revised fiscal governance framework for Italy, a country facing the dual challenge of high public debt and persistent economic stagnation. Using a Stock-Flow Consistent (SFC) macroeconometric model of the Italian economy (MITA), we...

This paper investigates the implications of the European Union's revised fiscal governance framework for Italy, a country facing the dual challenge of high public debt and persistent economic stagnation. Using a Stock-Flow Consistent (SFC) macroeconometric model of the Italian economy (MITA), we...

In this paper, we present QMDE, an empirical quarterly stock-flow consistent (SFC) model of Denmark. It is categorized as a medium-sized model to strike a balance between complexity and economic intuition. This model provides a nuanced understanding of Denmark's economic structure, segmenting it...

Following the Great Financial Crisis of 2008-2009, there has been a shift in mainstream economic policy modelling towards 'realism', with DSGE models partly diverging from the representative agent framework, and large-scale New Keynesian structural models addressing real-financial interactions...

In this paper, we present QMDE, an empirical quarterly stock-flow consistent (SFC) model of Denmark. It is categorized as a medium-sized model to strike a balance between complexity and economic intuition. This model provides a nuanced understanding of Denmark's economic structure, segmenting it...

Following the Great Financial Crisis of 2008-2009, there has been a shift in mainstream economic policy modelling towards 'realism', with DSGE models partly diverging from the representative agent framework, and large-scale New Keynesian structural models addressing real-financial interactions...

In this paper, we study the impact of contractionary monetary policies on income and wealth inequality. By developing an Agent Based-Stock Flow Consistent model, we show that both the sign and magnitude of monetary policy impacts depend on the heterogeneity characterizing income sources across...

The aim of this paper is twofold. First, it shows how a standard stock-flow consistent model (SFCM) can be modified to embed some fundamental insights from Graziani's theory of the monetary circuit (TMC). Second, it aims to address some common misconceptions about the TMC. More precisely, it is...

Following the Great Financial Crisis of 2008-9, there has been a shift in mainstream economic policy modeling toward "realism," with dynamic stochastic general equilibrium (DSGE) models partly diverging from the representative agent framework, and large-scale, New-Keynesian structural models...