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Open Macroeconomies as A Closed Economic System - SD Macroeconomic Modeling Completed

机译:开放宏观经济作为封闭的经济系统 - SD宏观经济建模完成

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This paper completes the series of macroeconomic modeling that tries to model macroeconomic dynamics on the basis of the principle of accounting system dynamics developed by the author. Money supply and creation processes of deposits were modeled in the first paper, while the second paper built dynamic determination processes of GDP, interest rate and price level. In the third paper, these two separate models were integrated to present a complete macroeconomic dynamic model consisting of real and monetary sectors. The fourth paper presented a model of a dynamic determination of foreign exchange rate in an open macroeconomy in which goods and services are freely traded and financial capital flows efficiently for higher returns. This fifth and final paper in the series tries to expand the integrated model in the third paper to the open macroeconomies according to the framework developed in the forth paper. It provides a complete generic model of open macroeconomies as a closed system, consisting of two economies, a foreign economy as an image of domestic economy. As a demonstration of its analytical capability, a case of credit crunch is examined to show how domestic macroeconomic behaviors influence foreign macroeconomy through trade and financial capital flows.
机译:本文完成了一系列宏观经济建模,试图在作者开发的会计系统动态原则的基础上尝试模拟宏观经济动态。存款的货币供应和创建过程在第一篇论文中进行了建模,而第二篇论文建立了GDP,利率和价格水平的动态确定过程。在第三篇论文中,这两个独立的模型被整合到呈现由实际和货币部门组成的完整宏观经济动态模型。第四篇论文提出了一种动态确定外汇汇率在开放宏观经济中的外汇率,其中商品和服务自由交易,金融资金有效地流动以获得更高的回报。该系列中的第五个和最后一篇文章试图将第三篇纸上的集成模型扩展到开放的宏观经济根据该框架的开放宏观经济。它提供了一个完整的通用模型,作为一个封闭系统的开放宏观管理,包括两个经济体,作为国内经济的形象。作为其分析能力的证明,审查了信贷紧缩的案例,以表明国内宏观经济行为如何通过贸易和金融资本流动影响外国宏观经济。

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