MACROECONOMIC EQUATIONS IN PRIVATE DERIVATIVES
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MACROECONOMIC EQUATIONS IN PRIVATE DERIVATIVES
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Edition
Pages
79-91
Abstract
The systems of partial derivative equations of hyperbolic type for aggregate demand (AD) and aggregate supply (AS) as functions of two independent variables (time and price index) are suggested for macroeconomics. It is shown that two mechanisms have great influence on dynamics of AD and AS curves: kinetics, or the velocity, of equilibrium setting between AS and AS curves and cinematic waves of inflation and deflation. The current values of aggregate demand, aggregate supply and price index can be calculated within the model for both cases of crossing and not crossing AD and AS curves.
Date of publication
01.07.2008
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42
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