Anemone, a Monetary Model for Belgium
(1975) , 64 pages
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- Abstract
- (en) Monetary research has long remained an uncultivated field in Belgium. Recently, however, growing interest and contact with foreign research have led to the publication of a number of studies, bearing on some or all of the money flows in the Economy. These recent papers show an encouraging degree of convergence, both in their behavioural assumptions and in their interpretation of the institutional framework. They all in fact derive from the basic approach of Brunner-Metzler, where the money supply is determined by a basis-multiplier relation, as applied to an open economy where the basis partly depends on an exogenous balance of payments. The present study, which is but an extension of F. Clavijo MIMI Model, belongs to that family; many of its relation thus bear a marked degree of resemblance to some of its predecessors. We Believe however the differences to be significant enough to warrant publication, in the hope that debate will lead to further improvement in what is essentially work in progress. The paper is divided in three parts. The first lays down the basic assumptions, and defines the scope and limitations of the model. The second describes in more detail the equations and their interplay. The third gives results on simulation.
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Citations
Clavijo, F., & Kervyn, A. (1975). Anemone, a Monetary Model for Belgium (Working Papers Institut des sciences économiques 7505). https://hdl.handle.net/2078.5/275854