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Is it possible to visualise any stock flow consistent model as a directed acyclic graph?

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posted on 2017-12-07, 16:39 authored by Peter G. Fennell, David J.P. O'Sullivan, Antoine Godin, STEPHEN KINSELLASTEPHEN KINSELLA
Yes it is. We rigorously demonstrate the equivalence of any stock flow consistent (SFC) model to a directed acyclic graph (DAG) using condensation graphs. The equivalence between stock flow models and DAGs is useful both for visualising large-scale macroeconomic models of this type and for inferring causality within these models. We developed a new package to build and simulate any SFC model and generate the corresponding DAGs, and we provide an example of this package using a well known model from the literature.

History

Publication

Computational Economcis;48 (2), pp. 307-316

Publisher

Springer

Note

peer-reviewed

Other Funding information

Institute for New Economic Thinking

Rights

The original publication is available at www.springerlink.com

Language

English

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