Stock-flow norms and systemic stability
- 2005
- p.1059-062.
- 18 Mar
We offer a dynamical systems translation of the Godley and Cripps (1983) framework. Stability of an economy is shown to depend on the concatenation of four parameters: a steady-state money income ratio, a speed-of-adjustment-of-assets coefficient, an inventory accumulation index, and the share of government in aggregate income. - Reproduced.