A Mathematical Model of an Open Economy with Applications in Romania

Catalin Angelo Ioan and Gina Ioan ()
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Gina Ioan: Danubius University of Galati

Acta Universitatis Danubius. OEconomica, 2013, issue 9(5), 103-170

Abstract: In this paper, we first study the static equilibrium of a a closed economy model in terms of dependence on national income and interest rate from the main factors namely the marginal propensity to consume, tax rate, investment rate and the rate of currency demand. In the second part, we study the dynamic equilibrium solutions in terms of stability. We thus obtain the variation functions of national income and interest rate variation and their limit values. Finally, we propose two scenarios of economic development of Romania.

Keywords: equilibrium; demand; income (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2013:i:5:p:103-170

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