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I don't know enough about economic modeling, but if the models can somehow be expressed as driven by a "potential" and a "flow" variable (like electric voltage
by dongping 6y ago
I don't know enough about economic modeling, but if the models can somehow be expressed as driven by a "potential" and a "flow" variable (like electric voltage and electric currents), then it would definitely make sense to try that out in Modelica.
- 082349872349872 6y agohistorical stock and flow economic modelling: https://en.wikipedia.org/wiki/MONIAC https://en.wikipedia.org/wiki/MONIAC (and then there's Cybersyn. It's difficult to evaluate how effective or ineffective it may have been, as the copper drop in value relative to gold by 5x in the early 1970's must've been a serious exogenous shock to the Chilean economy)