Novolis.Economy.Core 2026.1.0.57

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Novolis.Economy.Core

Bounded-minimum (BM) economic authority: immutable EconomyState, positions, claims, transactions, ledgers, and invariant-preserving atomic transitions. PackageId: Novolis.Economy.Core (2026.1.* on GitHub Packages). Normative types and rules: SPEC.md.

This package is the economic authority. Domain packages and Simulation depend on it. Simulation owns clocks, phases, model composition, and period sequencing; Core applies authoritative position, monetary, claim, and transaction transitions. Core contains no scheduler or model-specific phase ordering.

The authority graph is intentionally narrow:

Primitives → Core positions / claims / transactions
                    ↑
       Production · Markets · Finance · Simulation

EconomyState.PositionState and EconomyState.ClaimState are the stocks of record. Holdings and Loans remain named compatibility projections while older algorithms migrate; they must reconcile to those Core books. Deposits are intentionally still a separately named Core liability book in this release, not an operational package cash mirror.

1. Economic boundary

Core models who owns what, where, and who owes whom, plus period flows that update those stocks.

Relationships (grammar):

HouseholdCohort ──lives in──► Region
Firm ──operates──► Activity ──in──► Region
Activity ──consumes/produces──► ResourceHolding (Owner × Region × Resource)
LegalEntity ──owes──► PaymentObligation ──to──► LegalEntity
Bank ──liability──► Deposit ──asset of──► Depositor
Loan ──asset of Lender / liability of Borrower──► (claim symmetry)
ShareHolding ──units of──► ShareClass(Issuer)
ResourceTransfer ──carriage──► (ownership preserved unless a sale)

Ops weave: Core RegionId ≈ hub / GeographicAreaId; deliveries apply Core position transactions via the Simulation composition layer. PackageId Novolis.Economy is retired; shared vocabulary lives in Novolis.Economy.Primitives.

2. Legal entities

*State is not a share issuer in BM. Validation: EntityRules.

3. Regions

Three capacities (SPEC §3):

• Living — household count ceiling (RegionCapacity.OccupiedLiving / RemainingLiving)
• Production — space for installed activity runs (InstalledProductionSpace)
• Logistics — quantity that may leave via transfers this period

Enforced in install/migrate/transfer paths and InvariantChecker.

4. Household cohorts

Cohorts are aggregates. CashPerHousehold is retained as a compatibility spending constraint for unlinked cohorts; authoritative monetary wealth lives in linked household economic positions.

Profiles: consumption weight, savings preference, labor quality, migration preference.

Core extension: optional HouseholdEntityId links the cohort to a Household legal entity so wages, dividends, and trades have a cash account. Documented as extension (SPEC cohort record has no entity id).

5. Labor capacity

Effective labor-hours (region) =

[ \sum_c \mathrm{HouseholdCount}_c \times \mathrm{Hours}(\mathrm{LaborKind}_c) \times \mathrm{LaborQuality}_c ]

Hours bands: Common 12 / Mean 18 / Extreme 24 per household-day.

Capacity ≠ productivity. Quality scales available hours; recipe labor hours encode technology intensity. Participation rate is omitted (SPEC allows). See LaborSupply.

6. Activities

ProductionCalculator.ActualRuns = floor of min(installed, space, labor, inputs).
ApplyRuns debits inputs and credits outputs on the operator’s holdings in the activity region.

7–8. Resources & positions

Catalog: EconomyState.Resources (Core extension for named kinds).
Authoritative positions are keyed Owner×Region×EconomicAsset via PositionLedger. HoldingLedger and EconomyState.Holdings provide the resource-shaped compatibility view used by older production algorithms; their aggregate must equal the Core position.

9. Transport

Carriage moves location; trade changes owner (and usually pays). A transfer preserves Owner unless a sale step reassigns it.

TransferEngine.StartTransfer debits origin (logistics + lane capacity).
TickAndComplete decrements RemainingPeriods and credits destination.

10. Shares

ShareClass + ShareHolding(Units). Consistency: Σ held units + treasury = issued (ShareMath.IsConsistent). Households cannot be issuers.

11–13. Loans, credit, obligations

• Claims: ClaimLedger owns outstanding principal and claim status. Finance retains loan terms, accrual, repayment policy, and credit decisions; its Loan object is a behavior adapter whose balance is hydrated from Core.
• Credit facilities: Available = Limit − Drawn; only committed undrawn counts in liquidity; draw creates/augments a loan.
• Obligations: kinds + statuses; settle Wage → Tax → Interest → Principal → … (ObligationEngine).

14. Liquidity vs solvency (Minsky)

LiquidityPosition: cash + accessible deposits + undrawn committed credit − due-now obligations.
Liquidity.SimpleSolvency: stock claim on net worth (cash + deposits + undrawn − loans). Illiquid ≠ insolvent; insolvent ≠ immediately illiquid — BM tracks both simply.

15. Banks & endogenous money

Non-bank lend: cash transfer (portfolio shift).
Bank lend: +loan asset +deposit liability (post-Keynesian / endogenous money). Settlement from deposits can reassign deposit claims without vault cash (DepositLedger.TryPayFromDeposits).

16–17. Insurance & state policy

Premiums → obligations; pending LossEvents → claim obligations.
StatePolicy tax/transfer flows are money-conserving (State cash ↔ household/firm).

18. Stocks vs flows (Godley & Lavoie)

Stocks live on EconomyState. Flows accumulate on PeriodFlowLedger during the period (money created, cash moved, taxes, wages, production counters). Reconcile step asserts ownership/finance invariants — SFC spirit: every flow has counterparties; period opens/closes consistently.

Contrast: Arrow–Debreu GE clears all markets simultaneously; BM is a sequential period machine with rationing.

19. Invariants

InvariantChecker.Check / AssertAll: cash/holdings non-negative, share unit consistency, facility draw ≤ limit, living/production capacity, deposit banks are banks, household unownable as share issuer.

20. Period pipeline

The bounded period pipeline is owned by Novolis.Economy.Simulation.Bounded. It applies sixteen mechanisms in SPEC order through BoundedPeriodEngine; each mechanism calls Core's atomic transitions. Demand uses posted unit prices + quantity rationing (no order book). Other Simulation models may select a different composition without changing Core.

21. Aggregate state

EconomyState matches SPEC §21 fields, plus Core extensions: Resources, Lanes, PostedPrices, PendingLosses, Flows, and dictionary-keyed holdings/share classes for O(1) upsert. Period scratch and model specifications are Simulation-owned.

Non-goals (SPEC §22)

Economic grammar (summary)

Ownership, location, and claims are stocks. Production, trade, carriage, lending, tax, and settlement are flows. Core ShareHolding is the ownership stock; Accounting ownership DTOs are input/report adapters. Banks create deposits when they lend; lenders reshuffle cash. Liquidity is due-now coverage; solvency is net claims. Capacity binds living, production space, and logistics. Households are unownable; firms issue unit shares.

Citations

• Godley, W. & Lavoie, M. — Monetary Economics (stock–flow consistent accounting).
• Minsky, H. — financial instability; liquidity vs solvency.
• Tobin, J. — portfolio balance; financial claims as assets.
• Post-Keynesian / endogenous money literature — bank loan creates deposit.
• Arrow–Debreu — contrast only; BM is not GE clearing of everything.

Usage

using Novolis.Economy.Core.Extensions;
using Novolis.Economy.Simulation;
using Novolis.Economy.Simulation.Models;

var simulation = EconomySimulation.FromModel(
    seed: 42,
    new DeterministicBoundedModel());
await simulation.AdvanceAsync(SimulationDuration.FromHours(24));
var next = simulation.State.World.CoreState;
var snap = next.Snapshot();                 // macro stocks / counts
var firm = next.InsightFor(firmId);         // liquidity vs solvency
var regions = next.RegionInsights();        // capacity utilization

Tests: tests/Novolis.Economy.Unit (EconomyCore*).

Validation scenarios (EconomyCoreValidationScenariosTests): Godley–Lavoie-style cash conservation without bank money; Graziani monetary circuit (create → wage → spend → repay/destroy); Minsky illiquid-but-solvent; posted-price quantity rationing; living/logistics capacity binds.

Over-time behaviours (EconomyCoreOverTimeTests): multi-period cash conservation; carriage lag; delinquency→default aging; production accumulation; bank interest deposit drain; fiscal transfer exhaustion; Minsky stress across periods.

Install

dotnet add package Novolis.Economy.Core

Prerequisites: .NET 10 SDK (net10.0).