Real and Financial Flows in an Open Economy

Giancarlo Gandolfo

Chapter 6 in International Finance and Open-Economy Macroeconomics, 2016, pp 85-94 from Springer

Abstract: Abstract In this chapter we illustrate some important accounting relations among the main macroeconomic (real and financial) aggregates in an open economy in order to fit the balance of payments into the context of the whole economic system. The reason for giving this treatment in an international economics textbook is not that we are particularly fond of accounting, but that the accounting framework that we propose will render us invaluable services in the course of the examination of the adjustment processes of the balance of payments.

Keywords: Private Sector; Central Bank; Budget Constraint; Current Account; Banking Sector (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-662-49862-0_6

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DOI: 10.1007/978-3-662-49862-0_6

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