The verbal description of the monetary circuit has attracted wide interest, but early attempts to model it mathematically produced unexpected and undesired properties, including money disappearing immediately from the circuit, described in the literature under names such as losses in circuit, destruction of money and the dilemma of profit. Whether a single formalization (for example Pokrovskii and Schinkus's evolutionary system of money-circulation equations) has since become the field's accepted standard, rather than one contribution among several still-competing formalizations, is not settled in the general literature.
What would resolve this A citation census of subsequent post-Keynesian and circuitist monetary-economics literature showing one formal model has become the field's standard reference rather than one proposal among several competing ones.
OpenMonetary Circuit Theory (Wikipedia)