WIP based on Bill mitchell's blogs
Sectoral balances are relationships among money flows during an accounting period. Where we perceive accumulations of past imbalances to be accrued is another matter....
Clone of MMT Fiscal position
Launch page for Macroeconomics Textbook 2019 by Mitchell, Wray and Watts. There is also a book companion site
Macroeconomics Textbook Overview
From a March 2016 blog entry by Ari Andricopoulos
The economy simply explained
WIP replication of Khalid Saeed's draft paper presented by the Economics chapter of the SD Society in Sept 2019 youtube video
Unlinking public finance and taxation in fiat currency
WIP Summary of 2020 article Monetary Sovereignty: Nature, Implementation, and Implications by Eric Tymoigne
Eric Tymoigne Monetary Sovereignty
IM-168155 Summary of Ch 27 of Mitchell Wray and Watts Textbook see IM-164967 for book overview with simplified Mike Radzicki's 2003 Evolutionary Economics history article added
Clone of History of Economic Thought 2
Overview of Part D Ch 17 to 19 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Unemployment and Inflation Theory and Policy
Goodwin cycle IM-2010 with debt and taxes added, modified from Steve Keen's illustration of Hyman Minsky's Financial Instability Hypothesis "stability begets instability". This can be extended by adding the Ponzi effect of borrowing for speculative investment.
Clone of Clone of Minsky Financial Instability Model
WIP Summary of MIchael Hudson's Book Killing the Host: How Financial Parasites and Debt destroy the Global Economy
Killing the Host
Circular equations WIP for Runy.
Added several versions of the model. Added a flow to make C increase. Added a factor to be able to change the value 0.5.
Circularity in Economic models 1
Summary of Ch 24 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Policy in an open economy
Unfortunately, this model only produces the illusion of functioning, but I did manage to get it to give me the graph. However, because of the use of flows, if you change the time step to and the simulation length to anything other than the same numbers, you'll find the graph showing something that looks more exponential. This is due to the function referencing itself in regards to time, so inevitably each time consumption grows it changes the outcome on the other side of the equation. Still, this is a convincing mock up. I added a "45 degree" line so that one could conceivably see (and also change) the difference made by altering the level of autonomous consumption.
Clone of Keynesian Macroeconomics
Goodwin business cycle model, modified from Keen and Blatt
Clone of Goodwin Business Cycle
Goodwin business cycle model, modified from Keen and Blatt
Clone of Goodwin Business Cycle
Summary of Ch5 of Mitchell Wray and Watts Textbook see IM-164967 for overview
Labour Force States and Transitions
Circular equations WIP for Runy.
Added several versions of the model. Added a flow to make C increase. Added a factor to be able to change the value 0.5. Older version cloned at IM-46280
Clone of Circularity in Economic models
From Bill Mitchell and Warren Mosler December2018 billy blog entry and mosler's MMT white paper (google docs) 2019. Some highly aggregated stocks and flows and boundaries introduced.See also Feb 2026 updated insight
The essence of MMT
Summary of Ch 18 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
The Phillips Curve and Beyond
WIP based on Bill mitchell's blogs.
Sectoral balances are relationships among money flows during an accounting period. Where we perceive accumulations of past imbalances to be accrued is another matter....
Clone of MMT Fiscal position
Summary of Ch1 of Mitchell Wray and Watts Textbook see IM-164967 for overview
Macroeconomics Introduction
Model-SIM from Chapter 3 of Wynn Godley and Marc Lavoie's Monetary Economics, adapted for an open economy. The model is stock-flow consistent with only government money--no bills or bonds. No central bank and interest rates do not change. Government spends buying output from the production sector. The production sector is passive turning over all revenue over to households. Households save out of income and spend partially spend out of wealth. Imports and exports pass through the production sector illustrating the idea that consumer households buy from domestic businesses that which they have imported. The model also tracks the sectoral balance flows and changes in equity. Sectoral flows and equity balances match each other dollar for dollar to satisfy the sectoral balances accounting identity (Household Saving - Consumption) + (Business Saving - Expenditure) + (Taxes - Government Spending) - (Exports - Imports) = 0. Since business investment occurs internally to the Business Sector,
SFC_Model-SIM_open_economy
Summary of Ch 20 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Clone of Introduction to Monetary and Fiscal Policy Operations
Summary of Ch1 of Mitchell Wray and Watts Textbook see IM-164967 for overview
Clone of Macroeconomics Introduction
This is the model I developed within the scope of my article titled "System dynamics and geometric compromise programming: assessing the impact of entrepreneurship wage subsidies on macroeconomic objectives".
You can access my published article via this link: http://doi.org/10.1111/itor.13601
System dynamics and geometric compromise programming: assessing the impact of entrepreneurship wage subsidies on macroeconomic objectives (Article)
