A GDP dynamics model and monetary financial policy

Tianyong Luo

doi:10.1007/s11459-008-0010-z

Abstract

This article applies a dynamics approach in the research of monetary law of movement under the complex system of social economical operation, and characterizes the movement of money in a social institutional framework during GDP’s formation. Assuming that humans’ pursuit of the return of their money expenditure is a sensible course of nature, it defines the expression of money circulation velocity, and proceeds to deduce the basic differential equation of money circulation. By solving this equation, we can get the expression for a GDP dynamics model. After empirically testing the expression, this article draws a conclusion: GDP and the money in circulation (M0) share the positive correlation when the monetary financial institution remains unchanged.

Highlights

The *Saddharmaparikathā or “Sermons on the True Law” is a Buddhist homiletician’s guidebook composed probably around the 5th century ce
The artefact was discovered for modern scholarship by Rāhula Sāṅkṛtyāyana (1893–1963) and Dge ’dun chos ’phel (1903–1951) in 1934, during a somewhat hurried visit to Spos khang monastery in Gtsang province
The famous Indian scholar was able to study it for a short time during a subsequent trip, enough for a brief scholarly report, which was published in 1938.2 This is what he says in the introductory part of the said report: In my second trip to Tibet, I visited the monastery of Pökhang [i.e., Spos khang] where I saw three bundles of Sanskrit mss. in which I noticed an important work by the great poet Aśvaghôṣa

Summary

Introduction

The *Saddharmaparikathā or “Sermons on the True Law” is a Buddhist homiletician’s guidebook composed probably around the 5th century ce. The manuscript in question ( Ms) was kept in Tibetan custody for possibly as long as nine centuries, but it was apparently never translated or even engaged with until modern times. Last time, [i.e., on his third journey to Tibet] I tried my best to visit Pökhang, but I could not go. When the three volumes were brought, I found that one was Tridaṇḍamālā by Aśvaghôsha with a separate work named Parikathā by a later author.

Sāṅkṛtyāyana 1938

Kano 2016

Findings

33 See the forthcoming article “The Benefit of Cooperation