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Thursday, March 16, 2017

The Robots Are Coming For Your Equations!


A visual demonstration of how the sfc_models generates SFC model equations with algorithms. I demonstrate Model REG, from Chapter 6 of Godley and Lavoie's Monetary Economics. The model is regional, with a North and South region (in the same currency zone). The example shows the effect of an increase of the propensity to import.

The model ends up with over 100 equations (although some of those are initial condition specifications, and includes constant parameters).

I made a few mistakes in the commentary; I kept saying "propensity to consume" instead of "propensity to import". The code descriptions are correct...

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