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Re: pipeline
At 14:07 16.07.02 -0500, William B. Ryan wrote:
>The macroeconomy may be modeled as a dynamic network of differentially
>expanding pipelines.
I agree with the intention of this. But it is a much better analogy to
employ interconnected vessels with fixed outlet apertures, instead of
"differentially expanding pipelines" . This -- which is very much in the
spirit of early fifties A.W. Phillips -- among other things gives a very
pertinent representation of both money velocity and liquidity preference.
Se pp. 3 - 5 of
http://csf.Colorado.EDU/authors/Andresen.Trond/system-econ.pdf
or for a more comprehensive and recent treatment, put together for
a seminar,
http://www.itk.ntnu.no/ansatte/Andresen_Trond/dwnld/uts-paper-1200.pdf
(The first part of the latter paper is published in
MODELING, IDENTIFICATION AND CONTROL, vol. 19 no. 4, 1998.)
Trond Andresen
Norway
- Thread context:
- (Fwd) Tinbergen on shipbuilding,
phillp2 Thu 18 Jul 2002, 21:58 GMT
- Kaldor's 1939 paper,
Esteban Perez Thu 18 Jul 2002, 21:58 GMT
- Kaldor´s 1939 paper,
Esteban Perez Thu 18 Jul 2002, 14:41 GMT
- pipeline,
William B. Ryan Tue 16 Jul 2002, 19:39 GMT
- Balancing Demand to Supply, Supply to Need,
John Gelles Tue 16 Jul 2002, 04:11 GMT
- on Kaldor's paper,
Kazuhiro Kurose Tue 16 Jul 2002, 04:08 GMT
- Re: A Question about Fundamentals,
William B. Ryan Sat 13 Jul 2002, 16:52 GMT
- The Global Keynesianism of Stiglitz,
g kohler Sat 13 Jul 2002, 16:52 GMT
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