Tag Archives: wynne godley

I hope that this model will be taken up by more colleagues as it is very clear now that the IS/LM model “does not work”. If you make it more realistic by saying that investment does not depend on the rate of interest (vertical IS curve) and that the central bank determines the interest rate (horizontal LM curve), then you will have wasted 3-4 lectures to explain the goods market (IS curve) and the money market (LM curve) only to conclude that both do not matter in practice. It is only a...

Alan Shipman has written a biography of Wynne Godley! Palgrave Macmillan site for the book, or Google Books I dind't know this was even in the pipeline. The Case for Concerted Action Alan Shipman: Wynne Godley, A BiographyV. 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...

My comment there:While the EZ certainly should scrap the euro as a failed experiment, which was really an attempt to impose neoliberalism, elite control and corporate totalitarianism on Europe, doing so will not solve the problem, since it is only part of the problem.The underlying problem is capitalism in the sense that "capitalism" means favoring capital formation and accumulation over the other factors of production — labor (people) and land (environment) — because "growth" and...

You might be aware of the hour-long Wynne Godley’s interview with Alan Mcfarlane from 2008 titled, Interview On The Life And Work Of Wynne Godley. But there’s a 90-second clip and a 19-second clip I found from 1993 on Getty Images with the descriptions…. Thanks for sharing. The Case for Concerted ActionRare Wynne Godley Video ClipsV. Ramanan

Summary The US budget deficit is $100 billion in October 2018; this is a net expansion of income and savings in the private sector and explains the rebound in markets. The good news is that dollars are being added to the economy by the Federal government, allowing the private sector to post a $100 billion surplus. Private credit growth has rebounded this month and made a $17B contribution to aggregate demand and fiscal flows. Republican president and Republican Congress. Bring on the...

China moving toward fiscal austerity?Seeking AlphaChina Sectoral Flow Investment Assessment Alan Longbon

The US budget deficit is USD 75 billion in June 2018; this is a net add of income to the private sector and allows it to grow. The good news is that dollars are being added to the economy by the Federal government, and it grows the economy. Further net inflows are expected for the rest of the year from the Federal government and private credit growth. Private credit growth has so far added $36 billion to the net money supply; last year, it was only $23 billion. At this rate, it could total...

The first battle in the war between Brussels and Rome has thus been won by Brussels: I have little doubt that Mattarella was lobbied very strongly by EU figures to block Savona, because he is capable of developing the real weapon that Five Star/Northern League could bring to bear against the euro – the “mini-BOT.” Named in reference to Italy’s “buoni ordinario del tesoro,” which are short-term government bonds, these would be government-issued notes valued at between €1 and €500, which...

SummaryContrary to mainstream opinion the CBO report is a positive result. The CBO finds that higher deficits will lead to higher and faster GDP growth and employment. The governement deficit is the private sector surplus and while the private sector balance remains positive and grows the likelihood of a stock market crash or recession is low. The purpose of this report is to show the finding of the latest CBO about the Federal deficit is a good thing and should be celebrated. To produce...