country facing the dual challenge of high public debt and persistent economic stagnation. Using a Stock-Flow Consistent (SFC … expenditure path, consistent with the new Debt Sustainability Analysis, leads instead to an increase in debt/GDP. We perform …

This paper introduces ECB-(RE)BASE as the model-consistent, or rational expectation version of the ECB-BASE model. It … either with full model-consistent expectations or with hybrid expectations. The paper provides a didactic exposition of the …-based to model-consistent expectations would limit the pandemic-induced macroeconomic volatility but would exacerbate the price …

This paper presents a stock-flow-consistent model in which growth is led by exports and government expenditure. It …

an Agent Based-Stock Flow Consistent model, we show that both the sign and magnitude of monetary policy impacts depend on …

The aim of this paper is twofold. First, it shows how a standard stock-flow consistent model (SFCM) can be modified to … neoclassical-like closure of the model; (b) the ways in which SFCMs and the TMC define bank loans are mutually consistent, although …

. However, empirical models adopting the StockFlow Consistent (SFC) approach resolved most of these complications with a surge …