Cottin-Euziol, Edouard; Bougrine, Hassan; Rochon, … - In: European journal of economics and economic policies : … 21 (2024) 3, pp. 486-501
Stock-flow consistent (SFC) modelling and monetary circuit theory (MCT) have many similarities. However, an important difference concerns the reflux phase, during which the credits issued by banks are repaid. This phase is constitutive of MCT models, but does not generally appear explicitly in...