ABSTRACT
The national economies of the various countries mesh into an international economic system through the media of international trade, international capital movements and other international transactions. Through these same channels economic fluctuations occurring within each of the economic systems of the various countries are transmitted from one country to another. By reference to the economic relationships which determine the fluctuations in international trade and other international magnitudes, the economic models which describe the economies of individual countries may be linked together into one economic system describing the economic fluctuations in the world as a whole.
