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Using System Dynamics in Macroeconomics

K. Lawler, T. Vlasova and Alfredo Moscardini ()
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K. Lawler: University of Kuwait, Kuwait
T. Vlasova: Northumbria University, UK

Вестник Киевского национального университета имени Тараса Шевченко. Экономика., 2019, vol. 3(204), issue 204, 34-40

Abstract: In our previous studies, the authors argued that Economic Science in particular thesub –field of macroeconomics needed a profound reset and upgrade. It must use the systemic and cybernetic tools that are now available. This paper promotes a new paradigm and presents three examples that illustrate how a judicious application of systems theory can help to better understand the problem and offers a tool (System Dynamics) as a means of obtaining meaningful solutions.

Keywords: Economics; System Dynamics; Causal Modelling (search for similar items in EconPapers)
Date: 2019
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