TY - JOUR
T1 - Multi-scale Economic Dynamics
T2 - The Micro–Macro Wealth Dynamics and the Two-Level Imbalances of the Euro Crisis
AU - Yang, Hanchao
AU - Shao, Chenjie
AU - Khashanah, Khaldoun
N1 - Publisher Copyright:
© 2017, Springer Science+Business Media, LLC.
PY - 2019/2/15
Y1 - 2019/2/15
N2 - We introduce a system of ordinary differential equations to model the micro–macro wealth dynamics of interactions between international enterprise competitiveness and the macroeconomic growth as an open system. The novelty of the approach is to postulate dynamic interaction between domestic and foreign companies and link this interaction to the GDP growth. The objective is to construct a micro–macro wealth dynamic model. By analyzing the market share data of the retail industry of 13 largest Eurozone countries as a system, our model suggests that the predator–prey relation exists. Under certain regimes, it is shown that foreign companies have a negative contribution to the GDP growth. Such dynamics reveals two levels of imbalances: company competitiveness and national economic growth.
AB - We introduce a system of ordinary differential equations to model the micro–macro wealth dynamics of interactions between international enterprise competitiveness and the macroeconomic growth as an open system. The novelty of the approach is to postulate dynamic interaction between domestic and foreign companies and link this interaction to the GDP growth. The objective is to construct a micro–macro wealth dynamic model. By analyzing the market share data of the retail industry of 13 largest Eurozone countries as a system, our model suggests that the predator–prey relation exists. Under certain regimes, it is shown that foreign companies have a negative contribution to the GDP growth. Such dynamics reveals two levels of imbalances: company competitiveness and national economic growth.
KW - International competitiveness
KW - Micro–macro wealth dynamics
KW - ODE system
KW - Predator–prey relation
KW - Two-level imbalance
UR - http://www.scopus.com/inward/record.url?scp=85029814417&partnerID=8YFLogxK
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U2 - 10.1007/s10614-017-9748-7
DO - 10.1007/s10614-017-9748-7
M3 - Article
AN - SCOPUS:85029814417
SN - 0927-7099
VL - 53
SP - 587
EP - 616
JO - Computational Economics
JF - Computational Economics
IS - 2
ER -