I have created a video on Youtube of what happens if a debt limit is enforced in a modern economy (spoiler: bad things). It is based on a simple Stock-Flow Consistent model.
The Youtube URL in case the above embedded video does not work: http://youtu.be/928QLfMlBvM
This video is a bit of a technology test on my part.
A longer explanation of what is happening within the model (including simplifications made) is given in this blog post:
http://www.bondeconomics.com/2013/10/why-hard-debt-limit-is-very-bad-idea.html
as well as here:
http://www.bondeconomics.com/2013/10/some-further-comments-on-my-debt.html
Also: I have just set up a Twitter account;
(c) Brian Romanchuk 2014
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