On Stability in Generalized Schinasi's Macroeconomic Model Under Fixed Exchange Rates

Katarína Makovínyiová, Rudolf Zimka


In the paper a nonlinear dynamic macroeconomic model of a small
open economy is constructed. The model is based on the IS-LM
structure and generalizes the Schinasi's model of a closed
economy. Sufficient conditions for the existence of the
equilibrium of the model are found and the question of its
stability is analyzed.

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DOI: https://doi.org/10.2478/tatra.v43i0.18