DEFINE - A stock-flow-fund ecological macroeconomic model

Yannis Dafermos, Giorgos Galanis & Maria Nikolaidi
DEFINE, 2020
Level: expert
Perspectives: Ecological Economics, Post-Keynesian Economics
Topic: Macroeconomics, Resources, Environment & Climate
Format: Platform
Link: https://define-model.org/

On this website, you can learn about heterodox macroeconomic modelling. The DEFINE (Dynamic Ecosystem-FINance-Economy) model draws on post-Keynesian and ecological economics tradition. The website includes a description of the main features, publications, and a visualization tool!

The model produces various scenarios for the future of the ecosystem and the global economy. It can also evaluate the long-run effects of various types of environmental policies and strategies.

Currently, two visualizations are provided:

  1. DEFINE-MATTER on the use of matter and the generation of waste are affected by different factors.
  2. DEFINE-CLIMATE on climate change and how it is affected by economic growth, the share of renewable energy, energy intensity and a climate sensitivity parameter.

Comment from our editors:

Stock-flow consistent (SFC) modelling is one of the most viable alternatives to the dominant DSGE modelling of macroeconomic systems. Among others, SFC modelling guarantees a correct and comprehensive integration of all the flows and the stocks of an economy. Hence, it is great to have pages such as these to learn more about it.

Go to: DEFINE - A stock-flow-fund ecological macroeconomic model

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Ce projet est le fruit du travail des membres du réseau international pour le pluralisme en économie, dans la sphère germanophone (Netzwerk Plurale Ökonomik e.V.) et dans la sphère francophone (Rethinking Economics Switzerland / Rethinking Economics Belgium / PEPS-Économie France). Nous sommes fortement attachés à notre indépendance et à notre diversité et vos dons permettent de le rester ! 

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