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An Exploration Of Stock-Flow Consistent Models: An Analysis Of Fiscal Policy Effectiveness, Quinn Patrick Mcinerney
An Exploration Of Stock-Flow Consistent Models: An Analysis Of Fiscal Policy Effectiveness, Quinn Patrick Mcinerney
Senior Projects Spring 2017
This project explores the stock-flow consistent (SFC) approach to modeling with the goal of examining the effectiveness of different fiscal policy tools, specifically tax policies and government expenditure. By exploring the historical and theoretical elements of stock-flow consistent models, we aim to gather insight on past successful models proven to predict crises. This paper begins with a history and continues into a simple SFC model thought experiment, which emphasizes the flexibility of the models as well as a precursor to the shock approach we employ at the end of the paper. We create Model ECONOMY with several strong assumptions, such …