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MODELING THE MACROECONOMIC TRANSMISSION ENVIRONMENT: PUBLIC SECTOR IMPACT USING THE MONEY AND FINANCIAL MARKET MODEL
Resumen
Goal: The systemic macroeconomic environment is represented by economic and mathematical models that describe basic conditions for transmissions. Transmission mechanisms are formed not only by monetary policy instruments but also by other macroeconomic tools and factors that launch self-organizing processes, in particular, cyclicality and economic growth. Methods: To define such transmissions, the authors used the main macroeconomic models and functions that describe the institutional sectors of the economy; consumption and investment functions; arguments and functions underlying the balance of payments; and identity of national accounts. Results: An example of non-monetary transmissions is the influence of the public sector using the model of monetary and financial markets. The proposed methodological approach can be an economic and mathematical basis for developing software systems focused on forecasting economic dynamics, predicting monetary and financial crises, and managing the development of the national economy.
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DOI: http://dx.doi.org/10.21902/Revrima.v6i39.6270
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