A STOCK-FLOW-CONSISTENT MODEL
Romar CorreaDepartment of Economics, University of Mumbai
Received: 1. January 2010. Accepted: 28. June 2010.
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.
financial crises, long-term bonds
JEL: E12, E42
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