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The stock-flow consistent approach = selected writings of Wynne Godley /

Record Type:	Electronic resources : Monograph/item
Title/Author:	The stock-flow consistent approach/ edited by Marc Lavoie and Gennaro Zezza.
Reminder of title:	selected writings of Wynne Godley /
Author:	Godley, Wynne.
other author:	Lavoie, M.
Published:	New York :Palgrave Macmillan, : 2011.,
Description:	1 online resource.
Subject:	Stock-flow analysis. -
Online resource:	http://www.palgraveconnect.com/doifinder/10.1057/9780230353848
ISBN:	9780230353848 (electronic bk.)

The stock-flow consistent approach = selected writings of Wynne Godley /
Godley, Wynne.

The stock-flow consistent approachselected writings of Wynne Godley /[electronic resource] :edited by Marc Lavoie and Gennaro Zezza. - New York :Palgrave Macmillan,2011. - 1 online resource.

Includes bibliographical references and index.

Introduction; M. Lavoie& G. Zezza -- PART I: EARLY VIEWS ON THE STOCK-FLOW COHERENT APPROACH -- Inflation Accounting of Whole Economic Systems -- Time, Increasing Returns and Institutions in Macroeconomics -- PART II: STOCK-FLOW COHERENCE AND ECONOMIC THEORY -- An Important Inconsistency at the Heart of the Standard Macroeconomic Model -- Weaving Cloth from Graziani's Thread: Endogenous Money in a Simple (But Complete) Keynesian Model -- Macroeconomics without Equilibrium or Disequilibrium -- Kaleckian Models of Growth in a Coherent Stock-Flow Monetary Framework -- PART III: STOCK-FLOW COHERENCE AND ECONOMIC POLICY -- A Simple Model of Three Economies with Two Currencies: The Eurozone and the USA -- Maastricht and All That -- Fiscal Policy in a Stock-Flow Consistent Model -- Seven Unsustainable Processes: Medium-Term Prospects and Policies for the United States and the World -- Bibliography.

This book is the intellectual legacy of Wynne Godley, the famous British economist who was the head of the Department of Applied Economics at the University of Cambridge for nearly 20 years, after having been deputy director of the Economic section at the UK Treasury. These selected writings are useful not only as a summary of the evolution of Godley's analysis, but also equip economists with new tools for the achievement of sustainable economic growth. Professor Godley's work always originated from puzzles in the real world economy, rather than from curiosities in economic models, and his work has retained its practicality; the stock-flow models have proved to be effective in predicting recent recessions. These essays present Godley's challenge to accepted wisdom in the field of macroeconomic modelling, which, in his opinion, did not reflect the economics that he had learned by working on practical matters for the Treasury in the 1960s. Godley developed post-Keynesian traditions and created models which fully integrate theory with the financial system and real demand and output.

ISBN: 9780230353848 (electronic bk.)

Source: 497002Palgrave Macmillanhttp://www.palgraveconnect.comSubjects--Topical Terms:

253042
Stock-flow analysis.
Index Terms--Genre/Form:

96803
Electronic books.

LC Class. No.: HB172.5 / .G623 2011

Dewey Class. No.: 339

The stock-flow consistent approach = selected writings of Wynne Godley /
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520 $a This book is the intellectual legacy of Wynne Godley, the famous British economist who was the head of the Department of Applied Economics at the University of Cambridge for nearly 20 years, after having been deputy director of the Economic section at the UK Treasury. These selected writings are useful not only as a summary of the evolution of Godley's analysis, but also equip economists with new tools for the achievement of sustainable economic growth. Professor Godley's work always originated from puzzles in the real world economy, rather than from curiosities in economic models, and his work has retained its practicality; the stock-flow models have proved to be effective in predicting recent recessions. These essays present Godley's challenge to accepted wisdom in the field of macroeconomic modelling, which, in his opinion, did not reflect the economics that he had learned by working on practical matters for the Treasury in the 1960s. Godley developed post-Keynesian traditions and created models which fully integrate theory with the financial system and real demand and output.
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