Abstract for: Old Wine in a New Bottle: Towards a Common Language for Post-Keynesian Macroeconomics Model
Stock Flow Consistent methodology provide a common ground for the Post Keynesian Economics. System dynamics became a natural tool for solving simultaneous differential or difference equations or structural equations model. This paper aims for pedagogical and didactic approach by showing how to refactor a simplified a stock flow consistent model into a component based system dynamics model. By using hierarchical component based modeling approach, the model result would be easy to understand and to communicate.