El enfoque macroeconómico consistente de Wynne Godley. Una exposición.
Keywords:
post-Keynesian models, stock-flow consistet approach, strategic analysisAbstract
On May 13, 2010 died Wynne Godley, heterodox economist who became famous for his controversial macroeconomic forecast on the British economy in the years 70-90, for his critique of monetarist theory and policies adopted by the governments of Margaret Thatcher and, above all, for being one of the few economist who predicted the current recession. This article, written “In memoriam” of Godley, explains the methodology of the stock-flow consistent models, noting similarities and differences with other models and its superiority with respect the neoclassical ones commonly used.
Downloads
References
Barwell, R. y Burrows, O. (2011): "Growing fragilities? Balance Sheets in The Great Moderation" Financial Stability Paper nº10, Bank of England http://www.bankofengland.co.uk/publications/Documents/fsr/fs_paper10.pdf
Bezemer, D.J. (2009): "«No One Saw This Coming»: Understanding Financial Crisis Through Accounting Models". University Library of Munich; MPRA Paper nº15767 http://mpra.ub.uni-muenchen.de/15892/1/MPRA_paper_15892.pdf
Bispham, J.A. (1975): "The New Cambridge and "Monetarist" Criticisms of "Conventional" Economic Policy Making". National Institute Economic Review.74. pp. 39-55. https://doi.org/10.1177/002795017507400104
Carnegie-Rochester Conference Series on Public Policy (1978), vol.9
Cripps, F. y Godley, W. (1978):" Control of Imports as a Means to full Employment and the Expansion of World Trade; The UK's Case". Cambridge Journal of Economics, 2, pp. 327-334
Garrido, A. (2011): "Postkeynesianos y Sraffianos ¿Es Posible Alcanzar un Acuerdo? Nómadas. Revista Crítica de Ciencias Sociales http://www.ucm.es/info/nomadas/MA_sraffa/antoniogarrido.pdf
Godley, W: Su página en el Levi Economics Institute of Bard College: http://www.levyinstitute.org/scholars/?auth=104
Godley, W. and Cripps, F. (1983): Macroeconomics London, Fontana.
Godley, W. and Lavoie, M. (2007): Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth. Basingstoke, Palgrave Macmillan.
Godley, W. y Lavoie, M. (2012): Economía Monetaria: Una Revolución Contra la Teoría Económica Superficial con el Rigor de los Modelos Stock-Flujo. Marcial Pons.
Keynes, J.M. (1987): The Collected Writings of John Maynard Keynes, vol.xiv, Macmillan. Cambridge University Press.
Koo, R. (2012): The World in Balance Sheet Recession: What Post-2008 West Can Learn from Japan 1999-2005. Disponible en: http://ineteconomics.org/sites/inet.civicactions.net/files/koo-richard-berlin-slides.ppt#256,1,The World in Balance Sheet Recession: What Post-2008 West Can Learn from Japan 1990-2005. https://doi.org/10.2469/cp.v29.n2.6
Lavoie, M. and Zezza, G. (eds) (2012): The Stock-Flow Consistent Approach. Palgrave Macmillan.
https://doi.org/10.1057/9780230353848
Papadimitriou, D. y Zezza, G. (eds) (2012): Contributions to the Stock-Flow Modelling. Essays in Honour of Wynne Godley. Palgrave. https://doi.org/10.1057/9780230367357
Pasinetti, L.L. (2007): Keynes and the Cambridge Keynesians. A "Revolution in Economics" to be Accomplished. Cambridge University Press.
SNA; System of National Accounts 2008, (2009), New York. http://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf
Taylor, L. (2004): Reconstructing Macroeconomics. Harvard University Press. https://doi.org/10.4159/9780674044234
Tobin, J. (1982): "Money and Finance in the Macro-economic Process". Journal of Money, Credit and Banking, vol12, nº2. http://www.nobelprize.org/nobel_prizes/economics/laureates/1981/tobin-lecture.pdf
https://doi.org/10.2307/1991638
Tobin, J. and Brainard, W.C. (1968): "Pitfalls in Financial Model Building", American Economic Review, 58, May 99-122.
Wikipedia: Wynne Godley. http://en.wikipedia.org/wiki/Wynne_Godley
Downloads
Published
How to Cite
Issue
Section
License
This licence allows third parties to share (copy and redistribute the material in any medium or format) and adapt (remix, transform and create from the material for any purpose, including commercial purposes), provided that authorship and first publication in this journal (The Journal, DOI of the work) is acknowledged, a link to the licence is provided, and it is stated whether changes have been made to the work.
