About the Interview
Most "state of the art" macro models trivialize financial flows and largely neglect the interaction between finance and industry. That is why they failed at predicting and illuminating the collapse of the Irish economy. Stephen Kinsella sets out to provide a remedy: starting from a web of balance sheets, stock-flow-consistent models make it possible to trace the financial flows connecting firms and banks, households and government. Kinsella moves beyond mere simulation, and empirically calibrates a stock-flow consistent model of the Irish economy with the goal to inform policy -- this is new economic thinking.
About Stephen Kinsella
Stephen Kinsella is a lecturer in economics at the Kemmy Business School, University of Limerick. He was awarded his first PhD at the National University of Ireland, Galway under K. Vela Velupillai, and studied for a second PhD at the New School for Social Research in New York under E.J. Nell. He writes a bi-weekly column for the Guardian, and blogs regularly at www.stephenkinsella.net. Full profile
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