tag:blogger.com,1999:blog-5908830827135060852.post4723866262119854254..comments2024-03-01T02:40:14.946-05:00Comments on Bond Economics: SFC Modelling And Government Finance CatastrophesBrian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5908830827135060852.post-43345166053238976532014-03-08T12:46:30.687-05:002014-03-08T12:46:30.687-05:00I don't really know much about licensing, but ...I don't really know much about licensing, but I was advised to use the Creative Commons licensing for my stuff and to put the link on the blog. Not that I'm that concerned, really. Nick Edmondshttps://www.blogger.com/profile/15342983814699700396noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-65470326482709089032014-03-08T12:31:42.041-05:002014-03-08T12:31:42.041-05:00As a final addendum, one reason for waiting to put...As a final addendum, one reason for waiting to put out my code is that I want to look at the legal aspects of open source licences. The code is fairly basic now, but it is set up in a fashion so that I could expend a lot of effort improving it. I do not want to accidently lose control of my efforts. If anyone has ann interest inn this, and expertise in open source licensing models, I would be happy to hear about it.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-19523767734304801772014-03-08T12:27:22.094-05:002014-03-08T12:27:22.094-05:00As a further example, I do not attempt to calculat...As a further example, I do not attempt to calculate a same-period fiscal multiplier for fiscal policy, as in Godley and Lavoie. Instead, I am currently having the business sector react to historical demand. Since I have only had passive fiscal policy in my models, this was no big deal. However, I have left the model structure so that the business sector could react to fiscal policy so as to create a same period multiplier, but there could be errors in how the expectations are formed. Assuming I get my hands on the right Python libraries, I should be able to replicate the results of Godley and Lavoie (I need to solve some simultaneous equations).Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-33110738767356621212014-03-08T12:15:54.724-05:002014-03-08T12:15:54.724-05:00I am planning to release the code when it is ready...I am planning to release the code when it is ready for prime time. There are equations implicitly within the code, but they are defined as interactions amongst the "objects". For example, I define spending for households on the basis of it already receiving its salary for the period, and it can do its spending/saving allocation as a stand-alone operation. I do need to validate the "household budget constraint" with all the variables in one shot, rather the identities hold for each set of transactions. <br /><br />I have not yet triedthe trick of embedding another model within an entity's decision function, but it should be possible. Since the model is just an object, I would just need to instantiate another object.it obviously has to be a version of the model without an embedded model, as that would regress to infinity.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-88225815015415650822014-03-08T11:31:05.861-05:002014-03-08T11:31:05.861-05:00I think that how people react to changes in their ...I think that how people react to changes in their pension rights is quite a difficult issue. You could argue for rational households who take full account of the rights. In reality I suspect much of it is ignored, but not all. In by UK model, I incorporate a small impact on ongoing contributions from revaluations in pension fund assets due to market movements. This seems to me consistent with anecdotal evidence.<br /><br />I don't understand your modelling structure without equations, but I'd be interested to see more. I was going to ask if you could put a listing somewhere, but I guess not.Nick Edmondshttps://www.blogger.com/profile/15342983814699700396noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-28763856155790857952014-03-05T18:48:49.097-05:002014-03-05T18:48:49.097-05:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.com