# FQBM White Paper — Placeholder

This file is a **placeholder** for the canonical Four-Quadrant Balance Sheet Matrix (FQBM) white paper. The full theoretical foundation (Parts I–XVI) is referenced in [framework_summary.md](framework_summary.md) and in the codebase docstrings.

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## Intended content (when published here)

- **Part I**: Accounting foundation (A = L + E), four-quadrant matrix, open-economy identity.
- **Part II**: Closed-economy monetary dynamics (central bank, commercial bank).
- **Part III–IV**: Open-economy extension, BoP, parity conditions, capital flows, FX dynamics.
- **Part V–VI**: Sovereign risk and CDS; commodity shock channel.
- **Part VII–IX**: Shadow banking and leverage; derivatives clearing and CCP; CBDC and digital reserve architecture.
- **Part X**: Empirical regression appendix.
- **Part XI**: Historical case expansion (1997, 2008, 2020, 2022–23).
- **Part XII–XIV**: Quantitative stress tables; Monte Carlo framework; full system differential model.
- **Part XV–XVI**: Policy implications; simulation workbook architecture (eight sheets).

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## Versioning

When the white paper is added to this repository (as Markdown or PDF), it will be versioned with the code and linked from the README and framework_summary. Until then, the framework is implemented and documented in the codebase and in [framework_summary.md](framework_summary.md). For other suggestions (e.g. full CCP balance sheet, FX disclosure), see [RECOMMENDATIONS.md](RECOMMENDATIONS.md).