Feel free to download and use the codes. Please cite the source if you use them in public events or for publication.
Videos
Video tutorials are available at the links below:
- Tutorial 1: How to create a simple SFC model in R: First Part
- Tutorial 2: How to create a simple SFC model in R: Second Part
Request the passwords to access the videos by contacting info@marcopassarella.it. Some simple codes (which I use for teaching) can be downloaded from my GitHub repository.
See also the seminar by Gennaro Zezza on Applied Stock-Flow Consistent Modelling (YouTube)
R codes for selected SFC and AB toy models:
- SIM model. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 3, figures 3.2 and 3.3. See also: Matlab version; Python version; EViews version (from Gennaro Zezza‘s website). If you would like to receive a Simulink version, just contact me.
- SIM model 2. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 3, figure 3.1.
- SIM micro model. This code replicates model SIM but using individual consumption functions.
- SIM BIMETS model. This code replicates and estimates model SIM by using the Bimets package.
- SIM SFCR model. This code replicates model SIM by using the SFCR package. It is an amended version of the original code developed by Joao Macalos.
- Eco SIM model. This code replicates model SIM including the ecosystem.
- PC model. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 4, figures 4.3 and 4.4.
- PCEX2 model. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 4, figures 4.9 and 4.10.
- OPEN model. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 6, figures 6.8 to 6.11.
- OPENFLEX model. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 12.
- OPENSIME model. This code replicates the OPENSIME model presented and used in E. Carnevali, “A New, Simple SFC Open Economy Framework”, Review of Political Economy, 2021, DOI: https://doi.org/10.1080/09538259.2021.1899518
- BMW model. This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 7, figures 7.1 to 7.4.
- DAFNIK model. This code was developed by Yanis Dafermos and Maria Nikolaidi. It allows creating a SFC model calibrated using data for the US economy
- AB SIMEX model. This code was developed by Alessandro Caiani. It allows creating a simple Agent-Based SFC model, building upon model SIM.
Other useful codes:
- HIA model. This code replicates results in the book Economics with Heterogeneous Interacting Agents, by Alessandro Caiani, Alberto Russo, Antonio Palestrini and Mauro Gallegati, chapter 2.2, figure 2.4.
- VAR model. This code allows creating a 3-variable VAR model as a reduced-form DSGE model. US data are used. EViews version, R version, data (xls), data (csv).
- Lotka-Volterra model. This code creates a prey-predator model. EViews version, R version.
- A simple input-output model, also calculating reproduction prices.
- LUBS1620 models. These R codes replicate the experiments conducted in my LUBS1620 lectures. PKE model, ME model, MAE model, PKE-SFC model.
- Solow model. This code replicates the dynamics of a Solow-like growth model.
- SIR model. This code replicates a simple Susceptible-Infected-Recovered model of virus spread, assuming a fixed population with only three compartments (susceptible, infected and removed).
- Covid-19 Data Analysis. This code was developed by Yanchang Zhao. It is an analysis report of the Novel Coronavirus (COVID-19) around the world, to demonstrate data processing and visualisation with R, tidyverse and ggplot2.
- SIM interactive model with Python (Jupyter Viewer). This code replicates results in the book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth, by Wynne Godley and Marc Lavoie, chapter 3, figures 3.2, 3.3 and 3.8.
Models from my publications (in progress):
- Is the Italian government debt sustainable? Scenarios after the Covid-19 shock (with
R. Canelli, G. Fontana and R. Realfonzo), Cambridge Journal of Economics, 2022. R code: Italy-SFC-Model
- It is not la vie en rose. New insights from Graziani’s theory of monetary circuit, PKES working paper, 2022. TMC-SFC Model (R), TMC-SFC Model (Python)
- A comprehensive comparison of fiscal and monetary policies: a comparative dynamics approach (with M. Sawyer), Structural Change and Economic Dynamics, 2021. R codes (STRECO 2021 model)
- Cross-border financial effects of global warming in a two-area SFC model (with E. Carnevali, M. Deleidi and R. Pariboni), Socio-Economic Planning Sciences, 2020. Eviews program file, data
- Assessing the Marshall-Lerner condition within a stock-flow consistent model (with E. Carnevali and G. Fontana), Cambridge Journal of Economics, 2019. EViews program file: openflex model, openfix model
- SFC models: features, limitations and developments (with E. Carnevali, M. Deleidi and R. Pariboni), International Papers of Political Economy, 2019. EViews program file
- From abstract to concrete, European Journal of Economics and Economic Policies: Intervention, 2019. EViews program file, dataset, household TFM (R), household BS (R), appendices
- The monetary circuit in the age of financialisation (with M. Sawyer), Metroeconomica, 2017. EViews program file
- Marx RS models. EViews program file, R code
Useful links:
- Quick guide to R commands: Base R cheat sheet
- Repository of SFC models: Zezza website
- SFC modelling step by step: Dafermos website
- SFC packages and other material: Godin website
- Everything on Agent-Based Computational Economics: Tesfatsion website
- JMAB simulation toolkit: Caiani website
- SFCR package: Macalos website
- Model simulations: Karsten Kohler website
- Interactive macro: Alessandro Bramucci website
- My profile on GitHub