The aim of the System Dynamics Model KEYNEO is to model the German economy over a long time period (40 years). Keynesian and neoclassical elements form the base of KEYNEO. In the first step a complex feedback structure was developed to model the main economic variables on an aggregate level. The equations for the supply and the demand side of the economy were defined in the second step. The results of different runs demonstrate that KEYNEO mimics historic data quite good. With the use of optimization tools the parameters could be estimated. The statistical analysis of KEYNEO shows that the results are highly significant. This verification underlines the quality of KEYNEO to model an economy. In addition, the structure of KEYNEO may serve as input for much more sophisticated models.

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Date created

• 2005 July 17-2005 July 21

Type

• Document

Processing Activity

• Processing documentation available at: https://wiki.albany.edu/display/SCA/Processing+Ingested+Digital+Files

License

• Creative Commons BY-NC-ND Attribution-NonCommercial-NoDerivs 4.0 International

  
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ITEM CONTEXT

Part of

cc5bb0ac12a5b68b26b1583548898dae

Scope and Contents

Part of

3c582e6f5cf305ef0030c7471b499022

Scope and Contents

Part of

23d738ba88f8333bc39725f9cb5bd0b8

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Collection

System Dynamic Society Records

Scope and Contents

Collecting area

• This collection is part of the University Archives