Arbeitspapier
An empirical stock-flow consistent macroeconomic model for Denmark
This paper emphasizes the need for understanding the interdependencies between the real and financial sides of the economy in macroeconomic models. While the real side of the economy is generally well explained in macroeconomic models, the financial side and its interaction with the real economy remains poorly understood. This paper makes an attempt to model the interdependencies between the real and financial sides of the economy in Denmark while adopting a stock-flow consistent approach. The model is estimated using Danish data for the period 1995-2016. The model is simulated to create a baseline scenario for the period 2017-30, against which the effects of two standard shocks (fiscal shocks and interest rate shocks) are analyzed. Overall, our model is able to replicate the stylized facts, as will be discussed. While the model structure is fairly simple due to different constraints, the use of the stock-flow approach makes it possible to explain several transmission mechanisms through which real economic behavior can affect the balance sheets, and at the same time capture the feedback effects from the balance sheets to the real economy. Finally, we discuss certain limitations of our model.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 942
- Klassifikation
-
Wirtschaft
General Aggregative Models: Forecasting and Simulation: Models and Applications
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Open Economy Macroeconomics
- Thema
-
Empirical Stock-Flow Consistent Models
Denmark
Open Economy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Randrup Byrialsen, Mikael
Raza, Hamid
- Ereignis
-
Veröffentlichung
- (wer)
-
Levy Economics Institute of Bard College
- (wo)
-
Annandale-on-Hudson, NY
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Randrup Byrialsen, Mikael
- Raza, Hamid
- Levy Economics Institute of Bard College
Entstanden
- 2020
Ähnliche Objekte (12)
Argentina's (macroeconomic?) trap: Some insights from an empirical stock-flow consistent model
Stock-flow consistent macroeconomic models: A survey
A Synthetic, Stock-Flow Consistent Macroeconomic Model of Financialisation
Stock-and-flow-consistent macroeconomic model for South Africa
Integrating Energy Use into Macroeconomic Stock-Flow Consistent Models
A synthetic, stock flow consistent macroeconomic model of financialisation
A benchmark Ecological Stock-Flow-Consistent Input-Output model for Denmark
A post-Keynesian stock-flow consistent macroeconomic growth model: preliminary results
On the design of empirical stock–flow consistent models
On the design of empirical stock-flow-consistent models
The macroeconomic effects of migrants' remittances in Moldova: a stock–flow consistent model
The roads not taken: Graph theory and macroeconomic regimes in stock-flow consistent modeling
Argentina's (macroeconomic?) trap: Some insights from an empirical stock-flow consistent model
Stock-flow consistent macroeconomic models: A survey
A Synthetic, Stock-Flow Consistent Macroeconomic Model of Financialisation
Stock-and-flow-consistent macroeconomic model for South Africa
Integrating Energy Use into Macroeconomic Stock-Flow Consistent Models
A synthetic, stock flow consistent macroeconomic model of financialisation
A benchmark Ecological Stock-Flow-Consistent Input-Output model for Denmark
A post-Keynesian stock-flow consistent macroeconomic growth model: preliminary results
On the design of empirical stock–flow consistent models
On the design of empirical stock-flow-consistent models
The macroeconomic effects of migrants' remittances in Moldova: a stock–flow consistent model
The roads not taken: Graph theory and macroeconomic regimes in stock-flow consistent modeling
Argentina's (macroeconomic?) trap: Some insights from an empirical stock-flow consistent model
Stock-flow consistent macroeconomic models: A survey
A Synthetic, Stock-Flow Consistent Macroeconomic Model of Financialisation
Stock-and-flow-consistent macroeconomic model for South Africa
Integrating Energy Use into Macroeconomic Stock-Flow Consistent Models
A synthetic, stock flow consistent macroeconomic model of financialisation
A benchmark Ecological Stock-Flow-Consistent Input-Output model for Denmark
A post-Keynesian stock-flow consistent macroeconomic growth model: preliminary results
On the design of empirical stock–flow consistent models
On the design of empirical stock-flow-consistent models
The macroeconomic effects of migrants' remittances in Moldova: a stock–flow consistent model