iSPER MIC research group seminar with Neil Smith (pictured above), Plymouth Business School.
Stock-Flow Consistent (SFC) modelling has become a popular approach for macroeconomic modelling. However, the strengths of the accounting matrix approach have been critiqued for: having no microfoundations; focusing too much on monetary accounting; paying too little attention to the behavioural closure of models; being too cumbersome; and having opaque dynamics.
Neil's paper argues that combining SFC modelling with the principles of System Dynamics (SD) may help address such critiques, and also represents a useful approach for pedagogy.
Organised by the iSPER MIC research group.
This seminar is aimed at University of Plymouth academic staff and postgraduate research students. Booking is not required but please contact FoBresearch@plymouth.ac.uk if you have any questions.