Debt hierarchy: Autonomous demand composition, growth and indebtedness in a Supermultiplier model

Impacts of US Interest Rates on Growth, Income Distribution, and Macroeconomic Policy Space in Developing Countries: A SFC Supermultiplier Model

“…The neo-Kaleckian tradition has drawn influence from the New Cambridge School's argument of the importance of stock-flow relations on expenditures (Cripps and Godley, 1976) highlighting the relevance of stock-flowconsistent (SFC) modelling (Godley and Lavoie, 2007;Nikiforos and Zezza, 2018). Some SFC models have been developed to look at debt relations in supermultiplier models (Brochier and Silva, 2019;Pedrosa et al, 2023) and to look at financial aspects of developing countries (Nalin and Yajima, 2022;Perez Caldentey et al, 2023). But the interaction between balance-ofpayments constraint (and its related stocks) and autonomous demand-led growth has not yet been explored in a SFC framework for small open economies, to the extent of our knowledge.…”