Dassios, Ioannis K.; Devine, Mel T. - In: Journal of Economic Structures 5 (2016) 18, pp. 1-15
In this article, we assume a union of countries where each national economy interacts with the others. We propose a new model where (a) delayed variables are incorporated into the system of equations and (b) the interaction element is restricted into the annual governmental expenditure that is...