Volume of the steady-state space of financial flows in a monetary stock-flow-consistent model
Résumé
We show that a steady-state stock-flow consistent macro-economic model
can be represented as a Constraint Satisfaction Problem (CSP).
The set of solutions is a polytope, which volume depends on the constraints
applied and reveals the potential fragility of the economic circuit,
with no need to study the dynamics. Several methods to compute the
volume are compared, inspired by operations research methods and the
analysis of metabolic networks, both exact and approximate.
We also introduce a random transaction matrix, and study the particular
case of linear flows with respect to money stocks.
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