Tag Archives: National Accounts

Nicholas Kaldor quote. The Case for Concerted ActionMainstream Economics Compared To Keynesian TimesV. Ramanan

While the literature on theoretical macroeconomic models adopting the stock-flow-consistent (SFC) approach is flourishing, few contributions cover the methodology for building a SFC empirical model for a whole country. Most contributions simply try to feed national accounting data into a theoretical model inspired by Wynne Godley and Marc Lavoie (2007), albeit with different degrees of complexity. In this paper we argue instead that the structure of an empirical SFC model should start from...

In previous articles (example), I have been arguing that investment is the major driver of the private sector cycles. (I am using the national accounting definition of investment, and not the act of purchasing financial securities.) We can now turn to the data, and the important question: how are we doing right now?… There are a number of categories of expenditures that are all lumped under the notion of investment. The major categories of interest are: Investment by government (which is...

I just stumbled over a very nice figure from Destatis, Germany’s statistical office. It shows GDP and how you arrive at the correct number using the production, expenditure and income approaches. econoblog 101German GDP for students of economicsDirk Ehnts | Lecturer at Bard College Berlin