Is It Possible to Visualise Any Stock Flow Consistent Model as a Directed Acyclic Graph?

Peter G. Fennell, David J.P. O’Sullivan, Antoine Godin, Stephen Kinsella

Research output: Contribution to journalArticlepeer-review

Abstract

Yes it is. We rigorously demonstrate the equivalence of any stock flow consistent (SFC) model to a directed acyclic graph (DAG) using condensation graphs. The equivalence between stock flow models and DAGs is useful both for visualising large-scale macroeconomic models of this type and for inferring causality within these models. We developed a new package to build and simulate any SFC model and generate the corresponding DAGs, and we provide an example of this package using a well known model from the literature.

Original languageEnglish
Pages (from-to)307-316
Number of pages10
JournalComputational Economics
Volume48
Issue number2
DOIs
Publication statusPublished - 1 Aug 2016

Keywords

  • Directed graphs
  • Macroeconomic modeling
  • Stock flow consistent models

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