This paper proposes a fully consistent and general "Minskyan artificial economy" and uses it to analyze a small but representative sample of "formal Minskyan" models. It concludes that these models often assume oversimplified hypotheses that do not do justice to Minsky's literary analyses and,...

This paper reviews the theoretical roots and empirical basis of the so-called ?Structuralist-Keynesian? view on the unsustainability of current U.S. macroeconomic policies, associated with the names of Wynne Godley, Lance Taylor and John Eatwell, among others. It contrasts it with other views on...

This paper reviews the general tenets of 'stock-flow consistent' and the 'formal Minskyan' literatures and argues that the advantages and weaknesses of the latter become clearer when analyzed with the tools of the former. It also analyzes a small but representative and influential sample of...

This paper argues that the stock-flow consistent approach to macroeconomic modelling (SFCA) is a natural outcome of the path taken by Keynesian macroeconomic thought in the 1960s and 1970s, a theoretical 'frontier' that remained largely unexplored with the end of Keynesian academic hegemony. It...

This paper provides the details of the construction of new quarterly measures of the real GDPs of the 36 U.S. trading partners that are taken into consideration by the Federal Reserve in its "broad exchange rate" indexes. These new measures have some important advantages. First, they allow the...

This paper argues that the Stock-Flow Consistent Approach to macroeconomic modeling can be seen as a natural outcome of the path taken by Keynesian macroeconomic thought in the 1960s and 1970s, a theoretical frontier that remained largely unexplored with the end of Keynesian academic hegemony....

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...

This work argues that institutionally rich stock-flow consistent models--i.e. models in which economic agents are identified with the main social categories/institutional sectors of actual capitalist economies, the short-period behaviour of these agents is thoroughly described, and the 'period...