MINSKY Dynamic Economic Modeling Software. Named in honor of Hyman Minsky, this is a computer program that enables a complex monetary system to be modeled with relative ease. The program implements the tabular approach to modelling financial flows and combines this with the “flowchart” paradigm developed by engineers to model physical processes, and implemented in numerous software programs It will be both a pedagogic tool to make dynamic monetary modelling easy and attractive to new students, and a powerful research tool that will enable the construction of realistic, monetary models of capitalism.
TSL/IDEA Data Store. IDEA’s Time Series Language (TSL) is a script-based tool for retrieving data from different online sources in real time and combining them using spread sheet style expressions. This is a major new tool for practicing economists and students in analyzing debt, growth and employment. Although TSL could deliver any desired data manipulation, the scripting language is being kept deliberately simple. Anybody who can use a spreadsheet will be expert in a few minutes.
IDEA Effective Unemployment Rates. The general conversation about the employment situation is a babble of confusion because the chief statistic – the unemployment rate – is no longer descriptive. We explain why and how a simple and methodologically robust treatment can connect the participation rate and the unemployment rate to a single number that is descriptive.