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authorbnewbold <bnewbold@robocracy.org>2017-01-16 17:24:08 -0800
committerbnewbold <bnewbold@robocracy.org>2017-01-16 17:24:08 -0800
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examples: solo-swan economic growth model
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+model SolowSwan
+ "Simple economic growth model"
+ Real Y "total production";
+ Real K "capital factor";
+ Real L "labor factor";
+ Real A "labor-augmentation factor";
+ parameter Real L_0=1 "initial labor";
+ parameter Real A_0=1 "initial labor augmentation";
+ parameter Real alpha "elasticity of output with respect to capital (0 to 1)";
+ parameter Real n "labor (population) growth rate";
+ parameter Real g "augmentation growth rate";
+ parameter Real delta "rate of capital deprecation";
+ parameter Real c "consumption vs. investment fraction (0 to 1)";
+equation
+ Y = K^alpha * (A * L)^(1-alpha);
+ L = L_0 * e^(n*t);
+ A = A_0 * e^(g*t);
+ der(K) = (1-c)*Y - delta*K;
+end SolowSwan;