On "Open-economy macroeconomics using models of closed systems"

Authors
Correa, R Damle, S
Citation
R. Correa et S. Damle, On "Open-economy macroeconomics using models of closed systems", DISCR D N S, 6(3), 2001, pp. 207-212
Citations number
12
Categorie Soggetti
Multidisciplinary
Journal title
DISCRETE DYNAMICS IN NATURE AND SOCIETY
ISSN journal
10260226 → ACNP
Volume
6
Issue
3
Year of publication
2001
Pages
207 - 212
Database
ISI
SICI code
1026-0226(2001)6:3<207:O"MUMO>2.0.ZU;2-U
Abstract
International macroeconomic crises occur because of the enlargement of the dimension of the state space within which economies operate. Our focus is t he recent financial turbulence worldwide in which (i) banks had a role to p lay and (ii) whole systems collapsed. We validate these propositions in the context of the qualitative theory of differential equations. The economic framework used is that of Wynne Godley.