The System Dynamics National Model: Macrobehavior from Microstructure

  • Jay W. Forrester
Conference paper

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

Depression Milling 

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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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