The System Dynamic National Model was undertaken to show how local policies governing decentralized decisions in an economy create observed overall economic behavior. I feel we have succeeded well beyond our original expectations. The model, endogenously, without any external driving time series, generates the major observed modes of economic behavior: business cycles, inflation, the economic long wave and growth.
CITATION STYLE
Forrester, J. W. (1989). The System Dynamics National Model: Macrobehavior from Microstructure. In Computer-Based Management of Complex Systems (pp. 3–12). Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-74946-9_1
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