Kodera, Jan; Tran Van Quang - In: European financial and accounting journal : EFAJ 12 (2017) 1, pp. 19-34
The objective of this article is to derive a simple dynamic macroeconomic model of an open economy to show how an economy as a dynamic system can work. The proposed model is resulted from the traditional Mundell-Fleming model. Unlike the Mundell-Fleming model, we introduce a continuous dynamic...
