Keynesian Theorizing During Hard Times: Stock-Flow Consistent Models as an Unexplored 'Frontier' of Keynesian Macroeconomics

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. The representative views of Davidson, Godley, Minsky, and Tobin as different closures of the same SFC accounting framework are presented, and similarities and problems discussed.Post-Keynesian Models, Stock-Flow Consistency, Pitfalls Approach

A Stock-Flow Consistent General Framework for Minskyan Analysis of Closed Economics

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 seminal 'formal Minskyan' models, particularly the Taylor- O'Connel model, in light of a fully consistent 'Minskyan artificial economy.' The paper also shows these models often assume oversimplified hypotheses (that don't do justice tothe richness of Minskyan analyses) and, more seriously, often ignore the logical implications of these hypotheses. Finally, the authors arugue that most of these problems can be tackled when 'formal Minskyan' models are phrased as 'closures' of the 'general Minskyan' accounting framework described in the paper.

"Keynesian Theorizing During Hard Times: Stock-Flow Consistent Models as an Unexplored "Frontier" of Keynesian Macroeconomics"

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. The representative views of Davidson, Godley, Minsky, and Tobin as different closures of the same SFC accounting framework are presented, and similarities and problems discussed.

"A Post-Keynesian Stock-Flow Consistent Macroeconomic Growth Model: Preliminary Results"

Stock-flow consistent models may be considered the rallying point for heterodox authors interested in modeling macroeconomic relations, since these models incorporate real and financial relations in an entirely consistent way, therefore providing macroeconomic constraints to individual behavior. The present model expands on the Godley-Lavoie model of growth, which was based on a two-asset world, with only bank deposits and the shares issued by private corporations. The present model incorporates the financial relations among the central bank, private banks, and the fiscal policy of government, showing the endogeneity of money under different assumptions on banks' behavior. The model is used to analyze the relationship between the distribution of income and growth, and to study the impact of monetary policy.

"A Simplified 'Benchmark” Stock-flow Consistent (SFC) 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 early stages. This paper attempts to offer a contribution to this line of research by presenting a simplified Post-Keynesian SFC growth model with well-defined dynamic properties, and using it to shed light on the merits and limitations of the current heterodox SFC literature.

"A Simplified Stock-Flow Consistent Post-Keynesian Growth Model"

Despite being arguably the most rigorous form of structuralist/post-Keynesian macroeconomics, stock-flow consistent models are quite often complex and difficult to deal with. This paper presents a model that, despite retaining the methodological advantages of the stock-flow consistent method, is intuitive enough to be taught at an undergraduate level. Moreover, the model can easily be made more complex to shed light on a wealth of specific issues.

Poseidon Linux 3.x - The scientific GNU/Linux option

This software review is about the newest version of Poseidon Linux (3.x). The current Poseidon Linux is a remastering from Ubuntu LTS family (Long Term Support), with extra specific software applicable to many areas of scientific research and education. It contains specialist software for GIS/Mapping, bathymetry, numerical modeling, 2D/3D/4D visualization, bioinformatics, chemistry, statistics, as well as tools for creating simple and complex graphics and programming languages. It also includes basic packages as would be expected on a normal desktop, such as a complete office suite, internet browser, e-mail client, instant messaging, chat, multimedia and many other tools. Poseidon Linux can run in two modes, as a live-DVD or installed on the hard disk. There are versions for 32 and 64 bit computers, and support for Brazilian Portuguese, English, Spanish, French, Greek, Italian and German languages. Resumo. Poseidon Linux 3.x – A opção científica GNU/Linux. Esta resenha trata da nova versão do software Poseidon Linux (3.x). A versão atual é uma remasterização a partir do sistema operacional Ubuntu, família LTS (Suporte de Longo Prazo), com pacotes extras para várias áreas da ciência e educação. Contém programas específicos para SIG/mapeamento, batimetria, modelagem numérica, visualização 2D/3D/4D, bioinformática, química, estatística, bem como ferramentas para elaboração de gráficos simples e complexos e linguagem de programação. Inclui também os programas necessários encontrados num sistema operacional desktop, tais como suporte completo para escritório, navegador de internet, programas para envio e recebimento de mensagens instantâneas, multimídia e várias outras ferramentas. O Poseidon Linux pode ser utilizado de duas formas: diretamente do DVD, sem instalá-lo, ou instalando-o no disco rígido do computador. É apresentado nas versões 32 e 64 bits e pode ser totalmente configurado em Português do Brasil, Inglês, Espanhol, Francês, Grego, Italiano e Alemão

"Measures of the Real GDP of US Trading Partners: Methodology and Results"

This paper provides the details of the construction of new quarterly measures of the real GDPs of the 36 US 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 construction of various income aggregates and sub-aggregates, which makes it possible, for example, to match the Federal Reserve's "broad," "major-currency," and "other important" trading partner effective exchange rates and, more broadly, to discuss the geographical and geopolitical determinants of US trade. Second, they allow the construction of variants of the two different types of measures that are utilized in the literature, namely direct and export-share-weighted sums of trading-partner real GDPs. Finally, given that our new measures of GDP for these countries can be directly compared to each other, they can be of interest for other researchers who need a consistent dataset on a quarterly basis.

CodeCharge: gerador de códigos para aplicações Web.

Características do CodeCharge.bitstream/CNPTIA/9906/1/comuntec45.pdfAcesso em: 30 maio 2008