Solution of Dynamical Macroeconomic Model Using Modern Methods

Tereza Varyšová,Veronika Novotná

doi:10.5171/2015.701425

Abstract

Highlights

Modelling of the phenomena following from the economic reality and reflected by the statistical data is based in particular on the mathematic disciplines like statistics, numerical methods, operations research, linear and dynamic programming, optimization, etc
The paper aims to demonstrate ways in which the possibility of software solution of dynamical economic models by means of delay differential equations can be applied in economic theory
For numerical solution of the envisioned task for the delay differential equation is used the approach derived from current studies regarding solution of boundary value tasks for systems of „functional differential equations“

Summary

Introduction

Modelling of the phenomena following from the economic reality and reflected by the statistical data is based in particular on the mathematic disciplines like statistics, numerical methods, operations research, linear and dynamic programming, optimization, etc. The use of a suitable computer system is inevitable both for modelling, analyses, diagnostics and/or possible solution of issues by quantitative methods, and for economic reinterpretation and application. The use of a suitable computer system is inevitable both for modeling, analyses, diagnostics and/or possible solution of issues by quantitative methods, and for economic re-interpretation and application. The aim of submitting the article is to present possibilities of current software, to describe their use for applications and show how to construct a realistic model, which takes into consideration the data from previous periods expressed by a delay differential equation

Objectives

Results

Conclusion