Economics as a compartmental system: a simple macroeconomic example

Fabio Tramontana and Mauro Gallegati

No 1011, Working Papers from University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini

Abstract: The application in Economics of methods and tools originally thought for other disciplines is not new. In this paper we show how the compartmental approach, typical of Biology, Medicine, Chemistry, etc., can be used as a tool to represent the heterogeneity of the agents and introduce it into the dynamic models. We also show that in some cases the subdivision of the agents into compartments can be useful for the government in order to obtain some results more efficiently.

Keywords: Compartmental systems; Heterogeneous agents; Fiscal policy. (search for similar items in EconPapers)
JEL-codes: C60 E0 E1 E12 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2010, Revised 2010
New Economics Papers: this item is included in nep-cba and nep-hpe
References: View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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http://www.econ.uniurb.it/RePEc/urb/wpaper/WP_10_11.pdf First version, 2010 (application/pdf)

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Journal Article: Economics as a compartmental system: a simple macroeconomic example (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:urb:wpaper:10_11

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