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Including the monetary part in macro accounting: A ‘modern’ approach to the macroeconomic accounting

The Journal of Economic Development, Environment and People

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Title Including the monetary part in macro accounting: A ‘modern’ approach to the macroeconomic accounting
 
Creator TUTULMAZ, Onur
 
Subject Macroeconomic accounting; Monetary economy; Macroeconomics
Macroeconomic accounting; Transaction flow matrix; Output; Monetary economy; Macroeconomics.
E10, E42
 
Description Economic output is placed at the heart of the macroeconomics. To calculate the output one needs to achieve simplifying a high level complexity of economic relationships to form a system. On the flip side, the model should be enough elaborated to be able to reflect the important relationships. In this manner, the classical macroeconomic identity as Keynes suggested is simple enough to understand the main elements but it does not show the financial parts of transactions. Not having the monetary part of the economy it lacks the coherence. With the financial and economic crises getting more frequent, more endeavour to build a more inclusive and coherent macroeconomic system has been observed. However, there are large variety in different options of simplifying and simulating complex relationships among the real and monetary part of the modern economies.  Our paper tries to set an analysis comparing some of the recent prominent ideas in building balance sheet and transaction flow matrix in regard to macroeconomic accounting system. We can conclude the new achievement of including the monetary transactions in the frame causes a compromise from the simplicity for a coherent and more complete picture of macro economy.
 
Publisher Spiru Haret University
 
Contributor —
 
Date 2014-12-20
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
text/html
 
Identifier http://ojs.spiruharet.ro/index.php/jedep/article/view/82
10.26458/jedep.v3i4.83
 
Source Journal of Economic Development, Environment and People; Vol 3, No 4 (2014); 87-94
2285-3642
 
Language eng
 
Relation http://ojs.spiruharet.ro/index.php/jedep/article/view/82/pdf_64
http://ojs.spiruharet.ro/index.php/jedep/article/view/82/html_62
http://ojs.spiruharet.ro/index.php/jedep/article/downloadSuppFile/82/26