Publications

Working Paper No. 594 | May 2010

Revisiting “New Cambridge”: The Three Financial Balances in a General Stock-flow Consistent Applied Modeling Strategy

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.

Related Publications

Publication Highlight

Book Series
A Great Leap Forward
Heterodox Economic Policy for the 21st Century
Author(s): L. Randall Wray
January 2020

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