Abstract

This article summarizes and combs the relevant theories and practical effects of economic and financial sanctions between countries especially analyzes the economic mathematical modeling and prediction that are easy to be ignored in economic sanctions and points out the shortcomings of previous research mainly based on game theory especially the problems that exist when facing the “black - box of sanctions”. The article summarizes the main methods of sanctions research especially statistical and econometric research methodsꎬ mathematical modelsꎬ data simulation based on dynamic stochastic general equilibrium model (DSGE) and prediction based on computable general equilibrium model (CGE). The article also summarizes the latest public choice model explains the effective mechanism of sanctions and discusses the future research direction and possible breakthrough points including the use of models to predict the gains and losses brought to the country by a series of economic and financial sanctions such as trade wars or more objectively calculate them by means of figure networking and programming.

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