Original scientific paper

Regime-Changes in a Stock-Flow-Consistent Model

Romar Correa ; Department of Economics, University of Mumbai

Abstract

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.

Keywords

financial crises; long-term bonds

Hrčak ID:

76783

URI

https://hrcak.srce.hr/76783

Publication date:

1.7.2010.

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