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Diffstat (limited to 'examples/solow_swan_economic_growth/model.modelica')
| -rw-r--r-- | examples/solow_swan_economic_growth/model.modelica | 19 |
1 files changed, 19 insertions, 0 deletions
diff --git a/examples/solow_swan_economic_growth/model.modelica b/examples/solow_swan_economic_growth/model.modelica new file mode 100644 index 0000000..1a91faf --- /dev/null +++ b/examples/solow_swan_economic_growth/model.modelica @@ -0,0 +1,19 @@ +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; |