Goodwin business cycle model, modified from Keen and Blatt

Economics Goodwin Macroeconomics Keen

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.

Economics Minsky Keen Macroeconomics

Wagdy Samir work in progress. Addition of Bill Mitchell's draft textbook chapter1  See also The value of everything book IM

Economics Macroeconomics MMT

WIP Ideas from Science Special Issue May 2014

Inequality Economics Science Health Care Macroeconomics Financial Piketty

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.

Economics Macroeconomics Goodwin Growth

Causal loop representations of macroeconomics taken from the System Dynamics literature contrasted with Forrester's main layers of analysis of social and business organization layers

Macroeconomics Economics Dynamics Forrester

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

Economics Macroeconomics Methods

WIP Summary of MIchael Hudson's Book Killing the Host: How Financial Parasites and Debt destroy the Global Economy 

Finance Neoliberal Economics Politics Macroeconomics Monetary

This is a simplification of the Austerity vs Prosperity model in the hope that it will be easier to understand.

Austerity Prosperity Economics Macroeconomics Modern Monetary Theory MMT

Implementation of a DSGE Model solved in a Macroeconomics class by Harald Uhlig (link), using Rational Expectations, in this case, the Hansens Real Business Cycle Model.It shows the capacity of implementing Dynamic Stochastic General Equilibrium Model Analysis using System Dynamics.

Macroeconomics Economics DSGE Real Business Cycle

Summary WIP of Thomas Palley's 2012 Book

Economics Macroeconomics

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.

Econ Macro Macroeconomics Economics Keynes

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....

MMT Macroeconomics Economics

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

Economics Minsky Keen Macroeconomics

Based on Ch 7.3 of Mitchell Wray and Watts Textbook see IM-164967 for overview. IM-165415 Example converted to a continuous time dynamic model using stocks and flows

Macroeconomics MMT Mitchell

From Bill MItchell and Warren Mosler December2018 billy blog entry

MMT Economics Macroeconomics

From a March 2016 blog entry by Ari Andricopoulos

Economics Money Finance Macroeconomics

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. 

Economics Macroeconomics Methods

Scratch build of a stock-flow consistent model of a closed economy, based on a current transactions matrix

Economy Macroeconomics

Launch page for Macroeconomics Textbook 2019 by Mitchell, Wray and Watts. There is also a book companion site

Economics Macroeconomics MMT Mitchell

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

Economics Macroeconomics Methods

WIP Based on Steve Keen's Inaugural Kingston Lecture Youtube video slides models and data all at his blog

Economics Macroeconomics Keen

WIP Summary of Mariana Mazzucato's 2018 book See also IM-901 MacroEc

Economics Value Technology Innovation Macroeconomics

This model shows the basic functioning and dynamics of a 'modern monetary system'.

The non-government sectors, consisting of the private and foreign sectors initial y starts with zero currency units. It is important to realize that  after creating a new currency the government must first spend currency units into the economy before they can be used: without currency units the private sector could not even pay taxes! A government that has its own freely floating currency can create a much money as it wants. It does not need tax receipts to finance its spending, and any money it spends into the economy above that collected in taxes represents income for the private sector. The model show that the government initially created 9 trillion money units, but spent only six trillion into the economy. The six trillion showed up as a government deficit, but also as wealth in the non-government sector.

Since the government can create as many money units as it wishes and transfer  them  to the private sector  to ensure an adequate level of demand in the in the economy,  austerity is unnecessary: money is available, though real resource may be scarce. This also shows that the government can contribute actively towards the creation of prosperity. 

Please note that this model was originally created by Gene Bellinger, IM 3206, from which this version was  cloned.

Austerity Prosperity Economics Macroeconomics Modern Monetary Theory MMT