I am currently writing up an article on what Minsky added to Keynes an onwards to whether this is an up to date theoretical framework ready for use in the 21st century. 502 more words
Tags » Hyman Minsky
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In an often cynical world, standard ﬁnancial and macroeconomic quantitative models give people the beneﬁt of the doubt. Fundamental economic theory assumes the best of us, supposing that human beings are perfectly rational, know all the facts of a given situation, understand the risks, and optimize our behavior and portfolios accordingly.
- Integration of Real and Financial sectors of economy.
- Balance-sheet accounting approach
- Stock-flow consistent
- Quadruple accounting
From Post-Keynesian Stock-Flow Consistent Modeling: A Survey
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PK-SFC models are a specific kind of Post-Keynesian macro model that follows distinctive accounting rules, ensuring the consistent integration of the stocks and flows of all the sectors of the economy.