Global economy redefined: International transactions crucial for understanding macroeconomic dynamics.
The article "International Macroeconomic Dynamics" explores how international transactions play a crucial role in understanding domestic macroeconomic relationships. By using various macroeconomic models, the author analyzes both small and large economies in deterministic and stochastic contexts. The focus is on developing analytical models, with a unique emphasis on continuous-time stochastic methods. The research applies these models to important policy issues, particularly fiscal policy, providing valuable insights for future applications.