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
Sectoral balances are relationships among money flows during an accounting period. Where we perceive accumulations of past imbalances to be accrued is another matter....
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.
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.
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 Econoics IM-183285
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.
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.
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
Taken from Saeed, Khalid. ‘Limits to Growth Concepts in Classical Economics’. In Feedback Economics: Economic Modeling with System Dynamics, edited by Robert Y. Cavana, Brian C. Dangerfield, Oleg V. Pavlov, Michael J. Radzicki, and I. David Wheat, 217–46. Cham: Springer International Publishing, 2021. https://doi.org/10.1007/978-3-030-67190-7_9.
Note that I haven't been able to reproduce the reported results!
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.
