英文标题:
《National Accounts as a Stock-Flow Consistent System, Part 1: The Real
Accounts》
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作者:
Matti Estola and Kristian Veps\\\"al\\\"ainen
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最新提交年份:
2020
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英文摘要:
The 2008 economic crisis was not forecastable by at that time existing models of macroeconomics. Thus macroeconomics needs new tools. We introduce a model based on National Accounts that shows how macroeconomic sectors are interconnected. These connections explain the spread of business cycles from one industry to another and from financial sector to the real economy. These lingages cannot be explained by General Equilibrium type of models. Our model describes the real part of National Accounts (NA) of an economy. The accounts are presented in the form of a money flow diagram between the following macro-sectors: Non-financial firms, financial firms, households, government, and rest of the world. The model contains all main items in NA and the corresponding simulation model creates time paths for 59 key macroeconomic quantities for an unlimited future. Finnish data of NA from time period 1975-2012 is used in calibrating the parameters of the model, and the model follows the historical data with sufficient accuracy. Our study serves as a basis for systems analytic macro-models that can explain the positive and negative feed-backs in the production system of an economy. These feed-backs are born from interactions between economic units and between real and financial markets. JEL E01, E10. Key words: Stock-Flow Models, National Accounts, Simulation model.
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中文摘要:
当时的宏观经济学模型无法预测2008年的经济危机。因此,宏观经济学需要新的工具。我们介绍了一个基于国民账户的模型,该模型显示了宏观经济部门是如何相互关联的。这些联系解释了商业周期从一个行业蔓延到另一个行业,从金融部门蔓延到实体经济。这些年龄不能用一般均衡类型的模型来解释。我们的模型描述了一个经济体国民账户的真实部分。这些账户以货币流图的形式呈现在以下宏观部门之间:非金融企业、金融企业、家庭、政府和世界其他地区。该模型包含NA中的所有主要项目,相应的模拟模型为无限未来的59个关键宏观经济量创建时间路径。在校准模型参数时,使用了1975年至2012年期间的芬兰NA数据,模型以足够的精度遵循历史数据。我们的研究为系统分析宏观模型提供了基础,这些模型可以解释经济体生产系统中的正反馈和负反馈。这些反馈来自经济单位之间以及实体市场和金融市场之间的互动。杰尔E01,E10。关键词:股票流模型,国民经济核算,模拟模型。
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分类信息:
一级分类:Economics 经济学
二级分类:General Economics 一般经济学
分类描述:General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类:Quantitative Finance 数量金融学
二级分类:Economics 经济学
分类描述:q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学,包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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