Steve Keen’s Debt Watch

My keynote speech at the KEDGE Business School "Finance and Society" conference. I give a live demonstration of switching from a model of Loanable Funds to Endogenous Money in Minsky, as well as explaining and modeling Minsky's Financial Instablity Hypothesis

This is a demonstration of a Loanable Funds model in Minsky, showing that with this vision of lending, banks, debt and money are indeed irrelevant to macroeconomics.

Watch Explaining Richard Koo To Paul Krugman: Loanable Funds first. I then convert that model into this one on Endogenous Money with about 5 flicks of the mouse. With a model in which banks lend to non-banks, banks, debt and money become essential to macroeconomics.

My presentation to the Central Bank of Malaysia's annual conference. Covers the empirical relationships between private debt, public debt and unemployment that imply: (1) Change in private debt drives employment; and (2) Unemployment drives change in public debt. I then cover the fallacies that led economists to ignore banks and private debt in macroeconomics, and outline and model Minsky's Financial Instability Hypothesis in the Open Source modeling program Minsky.

I was a discussant on a DSGE macro model at the Malaysian Central Bank's annual conference. Rather than discussing the nuances of the particular model, I discussed the validity of the DSGE approach itself--covering the Sonnenschein-Mantel-Debreu Theorem (SMD), Mas-Colell's honest treatment of it, how this is an instance of emergent properties, and Robert Solow's stinging critique of an approach to macroeconomics that is based on the Neoclassical growth model that he developed.

My presentation on financial instability at the Harvard Law School "Re-theorizing Liquidity" seminar.

MY presentation at the Harvard Law School "Re-theorizing Liquidity Pro-Seminar". Shows how to use Minsky to model a mixed private-fiat money system.

An extended lunchtime talk on monetary macroeconomics with Gerard Fitzpatrick from Russell Investments and myself. Gerard provides an industry perspective for the first 30 minutes, and my talk starts at about the 34 minute mark.

I was invited to talk about my approach to macroeconomics to the regular staff seminar at the Australian Treasury. I gave a pretty comprehensive overview of my approach, and as part of my presentation, demonstrated the first strictly monetary, double-entry consistent model of production that I've developed in my simulation program Minsky--and therefore the first such model, period.

A quick demo of building a combined monetary-physical model in Minsky. I want to extend this capability dramatically through my Kickstarter campaign. If you'd like to help, you have just one week left to do so. Go to http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo/ and pledge for Minsky today