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Title:Revisiting "New Cambridge": The three financial balances in a general stock-flow consistent applied modeling strategy PDF Logo
Authors:dos Santos, Claudio H.
e Silva, Antonio C. Macedo
Issue Date:2010
Series/Report no.:Working paper, Levy Economics Institute 594
Abstract:This paper argues that modified versions of the so-called 'New Cambridge' approach to macroeconomic modeling are both quite useful for modeling real capitalist economies in historical time and perfectly compatible with the 'vision' underlying modern Post-Keynesian stock-flow consistent macroeconomic models. As such, New Cambridge-type models appear to us as an important contribution to the tool kit available to applied macroeconomists in general and to heterodox applied macroeconomists in particular.
Subjects:stock-flow vonsistent models
New Cambridge
aggregate financial balances
heterodox applied macroeconomics
JEL:B50
C82
E12
Document Type:Working Paper
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

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