Editorial to the special issue on empirical stock–flow consistent models

Abstract

See Bezemer (2010) among others. 3. See Lavoie/Zezza (2012) for a complete list of Godley's publications. 4. The Levy Institute research team on 'The State of the US and World Economies' has continued to maintain Godley's model for the US economy, as well as developing similar models for other countries. See Papadimitriou et al. (2013a; 2013b) for Greece. 5. See Bezemer (2010), who identifies Godley/Zezza (2006) and Godley et al. (2007) as timely warnings of the 2007 recession. 6. See Nikiforos/Zezza (2017) for a recent survey. 7. Godley (1999) is considered to be the contribution which brought attention to the SFC approach in recent times, since it projected the 2001 recession in a timely manner, at a time when commentators were praising the 'Great Moderation' and the end of business cycles. Godley's empirical work on the US has been published in the Levy Institute Strategic Analysis series.