tag:blogger.com,1999:blog-11906042.post4772047766481353642..comments2024-03-22T11:55:50.335+13:00Comments on Not PC: Spending your way to penuryPeter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11906042.post-76845750234131852382009-02-21T22:06:00.000+13:002009-02-21T22:06:00.000+13:00FF"Are you sure that your diagram cannot be modele...FF<BR/><BR/>"Are you sure that your diagram cannot be modeled by some non-linear coupling of consumption with investment back to the drivers, ie {improvement, eduction, machines}?"<BR/><BR/>It probably could be but it would be very difficult to know whether you had the right factors and variables in there and whether their type and magnitude was correct. Then there are time delays and phase lags and all sorts of nasties to deal with as well! Very messy and difficult to know whether you had it right or not. Also it would a problem to allow for the some scalars and relationsuhips to change subtly or suddenly. The most diffficult would be to get the dead weight of govt intervention in there. That would be a difficult part. <BR/><BR/>If you do build a model it would be interesting to see whether those guys would publish it or not.<BR/><BR/>LGMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-59591344406418372312009-02-19T16:56:00.000+13:002009-02-19T16:56:00.000+13:00PC said...Here’s a model of the economyOi! I can ...PC said...<BR/><I>Here’s a model of the economy</I><BR/><BR/>Oi! I can see that your economic model flow diagram contains a single <A HREF="http://en.wikipedia.org/wiki/PID_controller" REL="nofollow">closed-loop</A> feedback controller in there, ie, the flow feeds back from investment to {improvement, eduction, machines}.<BR/><BR/>Are you sure that your diagram cannot be modeled by some non-linear coupling of consumption with investment back to the drivers, ie {improvement, eduction, machines}?<BR/><BR/>So, is this where main stream economists got it wrong, ie, they assume that the consumption is doing the feedback but rather it is actually the investment that is doing the feedback to the primary drivers, {improvement, eduction, machines}?<BR/><BR/>I reckon that it is possible that both consumption & investment can form a non-linear coupling therefore they can both drive the primary causes {improvement, eduction, machines}?<BR/><BR/>Whadday reckon? Shall I submit my model to the journal of <A HREF="http://www.sciencedirect.com/science/journal/01651889" REL="nofollow">Economic Dynamics and Control</A> and if the editors like it and pay me, then I'll shout you a doz of VBs for you to take to Tutukaka at the weekend.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-44340942142127805702009-02-19T15:29:00.000+13:002009-02-19T15:29:00.000+13:00As I have noted over at No Minister today, The Mes...As I have noted over at No Minister today, The Messiah is suffering because his high spending bailout is not as popular as the media might have us believe.<BR/>The Republicans are back.<BR/><BR/><BR/>In contrast, the relative caution shown by our John Boy is paying off.FAIRFACTS MEDIAhttps://www.blogger.com/profile/09278035907912171422noreply@blogger.com