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The System Dynamics National Model: Macrobehavior from Microstructure

  • Jay W. Forrester

Abstract

The System Dynamics 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

stagflation

the economic long wave

and growth.

Keywords

Interest Rate Business Cycle Economic Behavior Production Sector Market Clearing 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1989

Authors and Affiliations

  • Jay W. Forrester
    • 1
  1. 1.Massachusetts Institute of TechnologyCambridgeUSA

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