Macroeconomics Models

These models and simulations have been tagged “Macroeconomics”.

Related tagsEconomicsMMTKeenMitchell

  Goodwin Model:   This is a basic version of the Goodwin Model based on Kaoru Yamagushi (2013),  Money and Macroeconomic Dynamics , Chapter 4.5 ( link )     Equilibrium conditions:   Labor Supply  = 100  Devation from the equilibrium conditions generates growth cycles.
Goodwin Model:
This is a basic version of the Goodwin Model based on Kaoru Yamagushi (2013), Money and Macroeconomic Dynamics, Chapter 4.5 (link)

Equilibrium conditions:
  • Labor Supply = 100
Devation from the equilibrium conditions generates growth cycles.
Summary of Ch 19 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of Ch 19 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
 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.

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.

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 l
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.
Overview of Ch 26 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Overview of Ch 26 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
 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.

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.

8 months ago
Summary of Ch 21 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of Ch 21 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Scratch build of a stock-flow consistent model of a closed economy, based on a current transactions matrix
Scratch build of a stock-flow consistent model of a closed economy, based on a current transactions matrix
Scratch build of a stock-flow consistent model of a closed economy, based on a current transactions matrix
Scratch build of a stock-flow consistent model of a closed economy, based on a current transactions matrix
 WIP of Rammelt's 2019 System Dynamics Review  Article  which has STELLA and Minsky software versions as supplements. Compare with the  older IM-2011  version

WIP of Rammelt's 2019 System Dynamics Review Article which has STELLA and Minsky software versions as supplements. Compare with the older IM-2011 version

Summary of  Ch 22 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of  Ch 22 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Overview of Part D Ch 17 to 19 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Overview of Part D Ch 17 to 19 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
WIP Summary of MIchael Hudson's  Book  Killing the Host: How Financial Parasites and Debt destroy the Global Economy 
WIP Summary of MIchael Hudson's Book Killing the Host: How Financial Parasites and Debt destroy the Global Economy 
 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.

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.

8 months ago
WIP summaries of  bill mitchell's blog  postings related to the connections between macroeconomics and wellbeing, particularly via unemployment and inflation
WIP summaries of bill mitchell's blog postings related to the connections between macroeconomics and wellbeing, particularly via unemployment and inflation
WIP from Ch 8.6 of Mitchell Wray and Watts Textbook see  IM-164967  for overview
WIP from Ch 8.6 of Mitchell Wray and Watts Textbook see IM-164967 for overview
 Goodwin business cycle  model , modified from Keen and Blatt

Goodwin business cycle model, modified from Keen and Blatt

8 months ago
Summary of Ch 15 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of Ch 15 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Summary of Ch 18 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of Ch 18 of Mitchell Wray and Watts Textbook see IM-164967 for book overview