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On “open-economy macroeconomics using models of closed systems”

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  • Romar Correa
  • Shubhada Damle

Abstract

International macroeconomic crises occur because of the enlargement of the dimension of the state space within which economies operate. Our focus is the recent financial turbulence worldwide in which (i) banks had a role to play 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.

Suggested Citation

  • Romar Correa & Shubhada Damle, 2001. "On “open-economy macroeconomics using models of closed systems”," Discrete Dynamics in Nature and Society, Hindawi, vol. 6, pages 1-6, January.
    • Handle: RePEc:hin:jnddns:968924
    DOI: 10.1155/S102602260100022X
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