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arXiv · 1601.00822

Volume of the steady-state space of financial flows in a monetary stock-flow-consistent model

Aurélien Hazan
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Abstract

We show that a steady-state stock-flow consistent macro-economic model can be represented as a Constraint Satisfaction Problem (CSP).The set of solutions is a polytope, which volume depends on the constraintsapplied and reveals the potential fragility of the economic circuit,with no need to study the dynamics. Several methods to compute the volume are compared, inspired by operations research methods and theanalysis of metabolic networks, both exact and approximate.We also introduce a random transaction matrix, and study the particularcase of linear flows with respect to money stocks.

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Aurélien Hazan. 2016-01-05. Volume of the steady-state space of financial flows in a monetary stock-flow-consistent model. https://doi.org/10.1016/j.physa.2017.01.050

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