An Empirical Stock-Flow Consistent Macroeconomic Model for Denmark

Macroeconomic instability and microeconomic financial fragility: a stock-flow consistent approach with heterogeneous agents∗

This paper introduces heterogeneous microeconomic behavior into a demand-driven stock-flow consistent model, in order to study the joint dynamics of leverage, income distribution and aggregate demand. The distinctive feature is in that the aggregation of heterogeneous agents is not performed numerically as in traditional agent-based models but by means of an innovative analytical methodology, o...

Regime-changes in a Stock-flow-consistent Model

We explore the dynamical properties of the Godley-Lavoie model with a focus on Central Bank horizons. The stability properties of modes of regulation are traced from a regime of private bank money to the current crisis with the Central Bank levers of short-term bonds issue to the emerging policy regime of long-term bonds as built-in stabilizers.

Stock-flow Consistent Modeling through the Ages

An Empirical Analysis of Causal Relationship between Stock Market and Macroeconomic Variables in India

The present paper is aimed at studying the nature of the causal relationship between stock prices and macroeconomic variables in India, if any such relationship exists. For this purpose the techniques of unit– root tests, cointegration and the Granger causality test have been applied between the NSE Index ‘Nifty’ and the macroeconomic variables, viz., Real effective economic rate (REER), Foreig...

An Empirical Analysis of the Relationship between Macroeconomic Variables and Stock Prices in Bangladesh

Establishing the relationship between stock prices and macroeconomic variables is very important for formulating current economic stabilisation policies. This paper investigates the causal relationship between four macroeconomic variables and Dhaka Stock Exchange (DSE) stock prices using cointegration and Granger causality test. The results suggest that cointegration exists between stock prices...