DEFINE - A stock-flow-fund ecological macroeconomic model

DEFINE - A stock-flow-fund ecological macroeconomic model
Yannis Dafermos, Giorgos Galanis & Maria Nikolaidi
DEFINE, 2020
Level: schwer
Perspektiven: Ökologische Ökonomik, Postkeynesianismus
Thema: Makroökonomik, Ressourcen, Umwelt & Klima
Format: Webseite
Link: https://define-model.org/

On this website, you can learn about heterodox macroeconomic modelling. The DEFINE (Dynamic Ecosystem-FINance-Economy) model draws on post-Keynesian and ecological economics tradition. The website includes a description of the main features, publications, and a visualization too, where the user can play with different variables (economic growth, interest rate, recycling rate, etc.).

The model produces various scenarios for the future of the ecosystem and the global economy. It can also evaluate the long-run effects of various types of environmental policies and strategies.

Currently, three visualizations are provided:

  1. DEFINE-SIMPLE on the impact consumption and investment decisions can have on the path of key economic variables and carbon emissions.
  2. DEFINE-CLIMATE on climate change and how it is affected by economic growth, the share of renewable energy, energy intensity and a climate sensitivity parameter.
  3. DEFINE-MATTER on how economic activity leads to the extraction of matter and the generation of waste.

Comment from our editors:

Stock-flow consistent (SFC) modelling is one of the most viable alternatives to the dominant DSGE modelling of macroeconomic systems. Among others, SFC modelling guarantees a correct and comprehensive integration of all the flows and the stocks of an economy. Hence, it is great to have pages such as these to learn more about it.

Go to: DEFINE - A stock-flow-fund ecological macroeconomic model

This material has been suggested and edited by:

Jorim Gerrard
Tags: heterodox models | keynesian models | modelling | Stock-Flow consistent (SFC)
The article reviews the effects that the War in Ukraine will have for the global economy. 2022 Level: leicht The Ukraine War's Multifaceted Economic Fallout Mohamed A. El-Erian Project Syndicate This article demonstrates Schumpeter's propagated approach to monetary analysis in macroeconomics so as to provide for a better understanding of the relation between finance and growth. 2022 Level: mittel Discovering the 'true' Schumpeter: New insights on the finance and growth nexus Peter Bofinger, Lisa Geißendörfer, Thomas Haas & Fabian Mayer voxEU Marxist scholar David Harvey explains key concepts of capital from Marx. Applying Marx's analysis of capital to today's world, showing both the longevity and relevance of Marx's Capital, 150 years after its publication. 2017 Level: mittel Marx, Capital and the Madness of Economic Reason David Harvey YouTube Dieses Seminar untersucht wie gesellschaftliche und wirtschaftliche Transformationen im Kontext der Klimakrise aussehen können und was diese gegenwärtig behindert. 2020 Level: leicht Transformative Ökonomie Florian Rommel Leuphana Universität & Cusanus Hochschule Momentan findet in der Klimapolitik eine Verzögerungstaktik unter dem Vorwand „sozialer“ Gestaltung der Klimapolitik statt. Noch unsozialer wäre es jedoch, eine noch uneffektivere Klimapolitik zu machen. Der Grund dafür liegt in einem Zusammenhang von Ungleichheit und Klimawandel, den der englische Wissenschaftler Ian Gough im Journal of Social Policy unter dem Begriff „Dreifache (Un-)gerechtigkeit“ erläutert. 2020 Level: leicht Von Klimagutscheinen, Ungleichheit und Holidays4Future Katharina Bohnenberger Economists for Future This guide contains a collection of recommended YouTube channels and YouTube videos in the fields of economics, business and economic policy. 2024 Level: leicht EconTube: The ultimate guide to pluralist economics channels on YouTube Frederick Heussner, Theresa Walter Exploring Economics

Spenden

Um sich weiterhin für Pluralismus und Vielfalt in der Ökonomik einzusetzen, benötigt das Netzwerk Plurale Ökonomik e.V. Unterstützung von Leuten wie dir. Deshalb freuen wir uns sehr über eine einmalige oder dauerhafte Spende.

Spenden