Macroeconomics Models

These models and simulations have been tagged “Macroeconomics”.

Related tagsEconomicsMMTKeenMitchell

Based on Ch 7.3 of Mitchell Wray and Watts Textbook see  IM-164967  for overview. See  IM-165546  for a conversion to a continuous time stock flow version of this simple example
Based on Ch 7.3 of Mitchell Wray and Watts Textbook see IM-164967 for overview. See IM-165546 for a conversion to a continuous time stock flow version of this simple example
WIP  based on Where profits come from  paper  , Nathan Tankus  blog  and other historical sources
WIP  based on Where profits come from paper , Nathan Tankus blog and other historical sources
 Este modelo es una copia de "Goodwin Business Cycle". Quité al menos una variable y aproximé la relación discreta entre el nivel de empleo y el crecimiento anual del salario con una función basada en la tangente hiperbólica.

Este modelo es una copia de "Goodwin Business Cycle". Quité al menos una variable y aproximé la relación discreta entre el nivel de empleo y el crecimiento anual del salario con una función basada en la tangente hiperbólica.

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
Summary of Ch1 of Mitchell Wray and Watts Textbook see  IM-164967  for overview
Summary of Ch1 of Mitchell Wray and Watts Textbook see IM-164967 for overview
This is a simplification of the Austerity vs Prosperity model in the hope that it will be easier to understand.
This is a simplification of the Austerity vs Prosperity model in the hope that it will be easier to understand.
  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 cu

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.


 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
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
WIP SD representation of Ch11 of their 2007 Monetary Economics book, as suggested by Adam K. Plan is to do a top down simple money flow SFC mmt model and successively split sectors. See also  essence of MMT IM  and  simpler version Ch3 IM
WIP SD representation of Ch11 of their 2007 Monetary Economics book, as suggested by Adam K. Plan is to do a top down simple money flow SFC mmt model and successively split sectors. See also essence of MMT IM and simpler version Ch3 IM
Summary of Part B Ch 9 and 10 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of Part B Ch 9 and 10 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Summary of Ch 14 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Summary of Ch 14 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
Causal loop representations of macroeconomics taken from the System Dynamics literature contrasted with Forrester's main analysis of social and business organization layers See also Saeed's Forrester Economics  IM-183285
Causal loop representations of macroeconomics taken from the System Dynamics literature contrasted with Forrester's main analysis of social and business organization layers See also Saeed's Forrester Economics IM-183285
 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

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.
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.
WIP SD representation of Steve Keen's MMT Minsky Model of an MMT fiat credit economy August 2020 patreon
WIP SD representation of Steve Keen's MMT Minsky Model of an MMT fiat credit economy August 2020 patreon
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 Dynamic map from Steve Keen's Minsky at 100 Lecture  video  and slides and later Emergent Macroeconomics papers
WIP Dynamic map from Steve Keen's Minsky at 100 Lecture video and slides and later Emergent Macroeconomics papers
Summary of Ch 27 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview See  IM-169093  for added dynamic evolutionary economics history
Summary of Ch 27 of Mitchell Wray and Watts Textbook see IM-164967 for book overview See IM-169093 for added dynamic evolutionary economics history
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 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....
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....