Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab

Detalhes bibliográficos
Autor(a) principal: Gaspar, José M.
Data de Publicação: 2018
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.14/25136
Resumo: This paper aims to connect the bridge between analytical results and the use of the computer for numerical simulations in economics. We address the analytical properties of a simple dynamic aggregate demand and aggregate supply (AD-AS) model and solve it numerically. The model undergoes a bifurcation as its steady state smoothly interchanges stability depending on the relationship between the impact of real interest rate on demand for liquidity and how fast agents revise their expectations on inflation. Using code embedded into a unique function in Matlab, we plot the numerical solutions of the model and simulate different dynamic adjustments using different parameter values. The same function also accommodates the analysis of the impacts of fiscal and monetary policy and supply side shocks on the steady state and the transition dynamics of the model.
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spelling Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with MatlabThis paper aims to connect the bridge between analytical results and the use of the computer for numerical simulations in economics. We address the analytical properties of a simple dynamic aggregate demand and aggregate supply (AD-AS) model and solve it numerically. The model undergoes a bifurcation as its steady state smoothly interchanges stability depending on the relationship between the impact of real interest rate on demand for liquidity and how fast agents revise their expectations on inflation. Using code embedded into a unique function in Matlab, we plot the numerical solutions of the model and simulate different dynamic adjustments using different parameter values. The same function also accommodates the analysis of the impacts of fiscal and monetary policy and supply side shocks on the steady state and the transition dynamics of the model.HindawiVeritati - Repositório Institucional da Universidade Católica PortuguesaGaspar, José M.2018-06-28T16:27:29Z20182018-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.14/25136engGaspar, J. M. (2018). Bridging the gap between Economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab. Journal of Applied Mathematics, Article ID 3193068, 13 p.1110-757X10.1155/2018/31930681687-004285045877506info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-09-26T01:42:40Zoai:repositorio.ucp.pt:10400.14/25136Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:20:02.924051Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
title Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
spellingShingle Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
Gaspar, José M.
title_short Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
title_full Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
title_fullStr Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
title_full_unstemmed Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
title_sort Bridging the gap between economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab
author Gaspar, José M.
author_facet Gaspar, José M.
author_role author
dc.contributor.none.fl_str_mv Veritati - Repositório Institucional da Universidade Católica Portuguesa
dc.contributor.author.fl_str_mv Gaspar, José M.
description This paper aims to connect the bridge between analytical results and the use of the computer for numerical simulations in economics. We address the analytical properties of a simple dynamic aggregate demand and aggregate supply (AD-AS) model and solve it numerically. The model undergoes a bifurcation as its steady state smoothly interchanges stability depending on the relationship between the impact of real interest rate on demand for liquidity and how fast agents revise their expectations on inflation. Using code embedded into a unique function in Matlab, we plot the numerical solutions of the model and simulate different dynamic adjustments using different parameter values. The same function also accommodates the analysis of the impacts of fiscal and monetary policy and supply side shocks on the steady state and the transition dynamics of the model.
publishDate 2018
dc.date.none.fl_str_mv 2018-06-28T16:27:29Z
2018
2018-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.14/25136
url http://hdl.handle.net/10400.14/25136
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Gaspar, J. M. (2018). Bridging the gap between Economic modelling and simulation: a simple dynamic aggregate demand-aggregate supply model with Matlab. Journal of Applied Mathematics, Article ID 3193068, 13 p.
1110-757X
10.1155/2018/3193068
1687-0042
85045877506
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Hindawi
publisher.none.fl_str_mv Hindawi
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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