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Working Paper No. 891

Working Paper No. 891 Stock-flow Consistent Macroeconomic Models: A Survey by Michalis Nikiforos and Gennaro Zezza Levy Economics Institute of Bard College May 2017 The Levy Economics Institute Working Paper Collection presents research in progress by Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service.

Stock-flow consistency is a central element in the work of Alfred Eichner (e.g., 1987), who also emphasized the interdependences of the real and financial sectors and the need for a combined treatment. Lance Taylor arrived at the SFC approach through his extensive

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