Peter Cooper — Short & Simple 19 – Sectoral Balances in a Closed, Demand-Determined Economy

Summary:
We have seen that the ‘income-expenditure model’ combines key macro identities (introduced in parts 7 and 15) with particular behavioral assumptions to provide a theory of income determination (considered in parts 16 and 18). The behavioral assumptions relate to causation. The causation envisaged in the income-expenditure model has implications for the sectoral balances, some of which are the focus of the present post.... heteconomistShort & Simple 19 – Sectoral Balances in a Closed, Demand-Determined EconomyPeter Cooper

Topics:
Mike Norman considers the following as important: income-expenditure identity, income-expenditure model, sectoral balances

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