Stationarity and Growth in an Agent-Based Model of an Economy
https://doi.org/10.25205/2542-0429-2022-22-1-84-102
Abstract
The paper discusses development of the investments block in an agent-based interregional multisector model of the Russian economy. The ability of the model to reproduce stationary states of the economy and economic growth under various regimes of intra-company fixed capital investment is considered. A given steady state can be achieved by choosing the shares of profits assigned to investment. Output growth was insured by reducing labor intensity by 2 % per year in the Leontief-type production functions of firms with a fixed level of labor resources. When investments are financed from the profits of firms under fixed share regime, the model economy demonstrate a balanced growth.
Supporting agencies: The study was supported by the Russian Foundation for Basic Research grant no. 19-010-00783-OGN “Agent-based modeling of the investment process in spatial economy”
About the Author
A. A. Tsyplakov
Novosibirsk State University; Institute of Economics and Industrial Engineering of the Siberian Branch of the Russian Academy of Sciences
Russian Federation
Russian Federation
Alexander A. Tsyplakov, Candidate of Sciences (Economics), Associate Professor
SPIN 77431
Scopus Author ID 57192156252
Novosibirsk
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For citations:
Tsyplakov A.A. Stationarity and Growth in an Agent-Based Model of an Economy. World of Economics and Management. 2022;22(1):84-102. (In Russ.) https://doi.org/10.25205/2542-0429-2022-22-1-84-102
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