Multi-sectoral production–one for Geeks

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Paul Krug­man some­times intro­duces his more com­pli­cat­ed posts on his blog as being “wonk­ish”. This post is wonk­ish in spades–though in the linked papers rather than the con­tent here.

I’ve just fin­ished the first rea­son­able descrip­tion of my mul­ti-sec­toral mon­e­tary mod­el of pro­duc­tion, which I’ll be pre­sent­ing at the Paul Wool­ley Cen­tre for Cap­i­tal Mar­ket Dys­func­tion­al­i­ty con­fer­ence lat­er this month.

There’s lots more to add before the mod­el is com­plete, but this is a work­ing first draft. Lat­er addi­tions will include a ten­den­cy to equalise prof­it rates across sec­tors and fixed cap­i­tal, as well as fiat mon­ey cre­ation in addi­tion to pure cred­it mon­ey as in this mod­el.

Click here for the paper, and here for the asso­ci­at­ed Math­cad file in which the mod­el­ling is done. For the lat­ter espe­cial­ly, right click and down­load oth­er­wise you’ll sim­ply get a page of XML in your brows­er.

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