TY - BOOK ID - 84549641 TI - IMF Staff papers : Volume 17 No. 1. AU - International Monetary Fund. AU - International Monetary Fund PY - 1970 SN - 1475500610 1463994818 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks KW - Commercial credit KW - Credit KW - Currency KW - Deflation KW - Depository Institutions KW - Export credit KW - Export credits KW - Exports and Imports KW - Exports KW - Finance KW - Foreign Exchange KW - Foreign exchange KW - Imports KW - Industries: Financial Services KW - Inflation KW - International economics KW - International Trade Organizations KW - International trade KW - Macroeconomics KW - Micro Finance Institutions KW - Monetary economics KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Money and Monetary Policy KW - Money KW - Mortgages KW - National Government Expenditures and Related Policies: General KW - Price Level KW - Public finance & taxation KW - Public Finance KW - Trade Policy KW - Trade: General KW - Botswana UR - https://www.unicat.be/uniCat?func=search&query=sysid:84549641 AB - This paper analyses possible approaches to a model of world trade and payments. Any world economic model resulting from linking national models together will inevitably have some of the characteristics of these national models. Since the national models that are to be connected are, overall, constructed so as to explain short-run variations in aggregate economic magnitudes such as economic activity, employment, and over-all price levels, the resulting world economic model will be best suited to explain short-term variations in trade and financial flows and the relationships between these flows and the policies conducted in the various countries with respect to the adjustment of demand and economic activity in the short run. Any model intended to explain the trade flows among many countries and regions must have strong microeconomic features it must be more nearly Walrasian than Keynesian. The practicability of building into a trade model the appropriate microeconomic features of this sort is, of course, a function of the size and degree of disaggregation of the model. ER -