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A Closer Look at Three Sectors’ Financial Balances

By Erin Haswell

Erin’s video is first among several developed by students in Eric Tymgoine’s modern money course.




Flow-of-funds and sectoral balances  by Bill Mitchell



Stock-Flow Consistent Macro Models, By Bill Mitchell


 Thus, when an external deficit (X – M < 0) and public surplus (G - T < 0) coincide, there must be a private deficit. While private spending can persist for a time under these conditions using the net savings of the external sector, the private sector becomes increasingly indebted in the process.



Sector Financial Balances Model of Aggregate Demand, by Scott Fullwiler


Private Sector Surplus or Net Saving = Government Deficit + Current Account Balance




A collection of Essays by Wynne Godley, Wynne Godley



Monetary Economics  -  Wynne Godley & Marc Lavoie


A better-annotated sectoral balances graph



Letter - Europe shows stimulus needed