On Stability in Generalized Schinasi's Macroeconomic Model Under Fixed Exchange Rates
Abstract
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.
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.
Full Text:
PDFDOI: https://doi.org/10.2478/tatra.v43i0.18