{ A Dynamic Synthesis of Basic Macroeconomic Therory: Implications for Stabilization Policy Analysis by Nathan B. Forrester Ph.D. Dissertation MIT Sloan School of Management August 1982 Thesis Supervisor: Dr. Robert M. Solow copyright 1982 Nathan B. Forrester nathanforrester@alum.mit.edu The equations of the original model have been changed as little as possible to maintain direct correspondence with text of dissertation. INTEG, POWER, SMOOTH, and RANDOM NORMAL functions of Vensim have been used as appropriate. Constants, initial computations, as well as variables and links related only to policy tests have been hidden in the attached sketch. Use View > Hidden Elements command to reveal the hidden variables and connections. } { APPENDIX A DYNAMO EQUATIONS FOR SIMULATION INVENTORY } IV=INTEG(Y-FS,EY*NIC) ~ Unit ~ Inventory | NIC=0.3 ~ Year ~ Normal Inventory Coverage | Y=PTY*(1-FCU)+SED*FCU ~ Unit/Year ~ Output | FCU=0.5 ~ Dimensionless ~ Flexibility of Capacity Utilization | PTY= EY*POWER(E/EE,1-ALFA)*POWER(K/EK,ALFA)+EY*RANDOM NORMAL(-0.1,0.1,0,SDVY,NSPTY) ~ Unit/Year ~ Potential Output | EY=2e+012 ~ Unit/Year ~ Equilibrium Output | ALFA=0.25 ~ Dimensionless ~ Exponent on Labor in Cobb-Douglas Production Function | SDVY=0 ~ Dimensionless ~ Standard Deviation in Output | NSPTY=222 ~ Dimensionless ~ Noise seed for normal random distribution in PTY equation | {TSNY=.25~~| Sample frequency for noise in PTY equation in original model} DII=(DIV-IV)/TAI ~ Unit/Year ~ Desired Inventory Investment | TAI=0.4 ~ Year ~ Time to Adjust Inventory | DIV=NIC*LED ~ Unit ~ Desired Inventory | SED=SMOOTHI(A,TSSD,EY) ~ Unit/Year ~ Short-run Expected Demand | TSSD=0.5 ~ Year ~ Time to Smooth Short-run Demand | A= FS+DII+EY*RANDOM NORMAL(-0.1,0.1,0,SDVA,NSA) ~ Unit/Year ~ Aggregate Demand | SDVA=0 ~ Dimensionless ~ Standard Deviation in Aggregate Demand | NSA=333 ~ Dimensionless ~ Noise seed for normal random distribution in A equation | {TSNA=.25~~| Sample frequency for noise in A equationin original model} FS=C+IVST+G+(PLSH*EY/TIME STEP)*PULSE(PLST,TIME STEP) ~ Unit/Year ~ Final Sales | PLSH=0.01 ~ Dimensionless ~ Pulse Height in Final Sales | PLST=1000 ~ Year ~ Pulse Time in Final Sales | { LABOR } E=SMOOTHI(DE,TAE,EE) ~ Person ~ Employment | EE=1e+008 ~ Person ~ Equilibrium Employment | TAE=0.4 ~ Year ~ Time to Adjust Employment | DE=(1-ALFA)*SED/RW ~ Person ~ Desired Employment | RW=INITIAL((1-ALFA)*EY/EE) ~ Unit/Person/Year ~ Real Wage | U=ACTIVE INITIAL((EE/(1-NRU)-E)/(EE/(1-NRU)),NRU) ~ Dimensionless ~ Unemployment Rate | NRU=0.05 ~ Dimensionless ~ Normal Rate of Unemployment | { CAPITAL. } K=INTEG(IVST-KD,EK) ~ Unit ~ Capital | EK=INITIAL(ALFA*EY/(1/ALK+LR)) ~ Unit ~ Equilibrium Capital | KD=K/ALK ~ Unit/Year ~ Capital Depreciation | ALK=14 ~ Year ~ Average Life of Capital | IVST=(KD+(DK-K)/TAK) ~ Unit/Year ~ Investment | TAK=3 ~ Year ~ Time to Adjust Capital | DK=ALFA*LED/(1/ALK+R) ~ Unit ~ Desired Capital | LED=SMOOTHI(A,TSLD,EY) ~ Unit/Year ~ Long-run Expected Demand | TSLD=4 ~ Year ~ Time to Smooth Long-run Demand | { CONSUMPTION } C=APC*PY ~ Unit/Year ~ Consumption | APC=INITIAL((PY-KD)/PY) ~ Dimensionless ~ Average Propensity to Consume | PY=SMOOTHI(CDY,TSY,EY-(T-GT)) ~ Unit/Year ~ Permanent Income | TSY=2.5 ~ Year ~ Time to Smooth Income | CDY=Y-(T-GT) ~ Unit/Year ~ Current Disposible Income | { INTEREST RATE . } R=LR*EXP(-1/IEM*LN(EY*P/(M*EYVM)))*EXP(-YEM/IEM*LN(AY/EY)) ~ 1/Year ~ Interset Rate | LR=0.03 ~ 1/Year ~ Long-run Interest Rate | YEM=0.7 ~ Dimensionless ~ Income Elasticity of Money Demand | EYVM=5 ~ 1/Year ~ Equilibrium Income Velocity of Money | IEM=-1 ~ Dimensionless ~ Interest Elasticity of Money Demand | AY=SMOOTHI(Y,TSAY,EY) ~ Unit/Year ~ Average Output | TSAY=2.5 ~ Year ~ Time to Smooth Average Output | M=INTEG(RCM,EM) ~ Dollar ~ Money Stock | EM=INITIAL(EY*EP/EYVM) ~ Dollar ~ Equilibrium Money | { PRICE LEVEL } P=INTEG(P*SPC*(NRU/U-1),EP) ~ Dollar/Unit ~ Price | EP=1 ~ Dollar/Unit ~ Equilibrium Price | SPC=0.0175 ~ 1/Year ~ Slope of Phillips Curve | { GOVERNMENT } G=EGS+CGS ~ Unit/Year ~ Government Spending | EGS=4e+011 ~ Unit/Year ~ Equilibrium Government Spending | CGS=EGS*PT*SCGS ~ Unit/Year ~ Countercyclical Government Spending | SCGS=0 ~ Dimensionless ~ Strength of Countercyclical Government Spending | T=(EGS+EGT)*(1-SGYT)+Y*NTR*SGYT ~ Unit/Year ~ Taxes | SGYT=1 ~ Dimensionless ~ Strength of Graduated Income Tax | NTR=INITIAL((EGS+EGT)/EY) ~ Dimensionless ~ Normal Tax Rate | GT=EGT+CGT ~ Unit/Year ~ Government Transfers | EGT=2e+011 ~ Unit/Year ~ Equilibrium Government Transfers | CGT=EGT*SCGT*PT ~ Unit/Year ~ Countercyclical Government Transfers | SCGT=0 ~ Dimensionless ~ Strength of Countercyclical Government Transfers | RCM=M*PT*SCMG+STM*(TMS-M)/TAM ~ Dollar/Year ~ Rate of Change in Money | TAM=0.00625 ~ Year ~ Time to Adjust Money | SCMG=0 ~ Dimensionless ~ Strength of Countercyclic Money Growth | STM=0 ~ Dimensionless ~ Switch on Target Money | TMS=EM*(1+SCMS*PT) ~ Dollar ~ Target Money Stock | SCMS=0 ~ Dimensionless ~ Strength of Countercyclic Money Stock | PT=(LU-NRU)+SDC*(E-DE)/(TAE*E) ~ Dimensionless ~ Policy Trigger | SDC=0 ~ Dimensionless ~ Strength of Derivative Control | LU=SMOOTHI(U,TSU,U) ~ Dimensionless ~ Lagged Unemployment Rate | TSU=0.0625 ~ Year ~ Time to Smooth Unemployment | TIME STEP = 0.0625 ~ Year ~ Simulation Solution Interval | INITIAL TIME = 0 ~ Year ~ Time at Start of Run | FINAL TIME = 15 ~ Year ~ Time at End of Run | SAVEPER = TIME STEP ~ Year ~ Time Between Output Save Events | RCI=Y-C-IVST-G ~ Unit/Year ~ Rate of Change in Inventory | RCE=((DE-E)/TAE)/E ~ 1/Year ~ Rate of Change in Employment | PERY=Y-KD ~ Unit/Year ~ Personal Income | \\\---/// Sketch information - do not modify anything except names V300 Do not put anything below this section - it will be ignored *Introduction $0,0,Times New Roman|12||0-0-0|0-0-0|0-0-0|-1--1--1|-1--1--1|96,96 31,1,vskt0000.met,275,123,288,90,0,0,0,0,-1,0,0,0 31,2,vskt0001.met,284,322,240,64,0,0,0,0,-1,0,0,0 \\\---/// Sketch information - do not modify anything except names V300 Do not put anything below this section - it will be ignored *Causal Diagram $0,0,Times New Roman|12||0-0-0|0-0-0|0-0-0|-1--1--1|-1--1--1|96,96 10,1,SED,485,224,40,20,3,3,0,0,0,0,0,0 10,2,A,666,221,8,11,0,3,0,0,-1,0,0,0 1,3,2,1,0,0,0,0,0,0,0,-1--1--1,,1|(598,221)| 10,4,TSSD,443,181,21,11,0,3,1,0,-1,0,0,0 1,5,4,1,0,1,0,0,0,0,0,-1--1--1,,1|(454,193)| 10,6,DII,537,144,13,11,0,3,0,0,-1,0,0,0 1,7,6,2,1,0,0,0,0,0,0,-1--1--1,,1|(601,162)| 1,8,53,2,0,1,0,0,0,0,0,-1--1--1,,1|(573,251)| 10,9,FS,776,220,11,11,0,3,0,0,-1,0,0,0 1,10,9,2,0,0,0,0,0,0,0,-1--1--1,,1|(726,220)| 10,11,NSA,612,190,18,11,0,3,1,0,-1,0,0,0 1,12,11,2,0,1,0,0,0,0,0,-1--1--1,,1|(637,204)| 10,13,SDVA,499,192,23,11,0,3,1,0,-1,0,0,0 1,14,13,2,0,1,0,0,0,0,0,-1--1--1,,1|(583,205)| 10,15,DIV,549,281,16,11,0,3,0,0,-1,0,0,0 1,16,15,6,1,0,0,0,0,0,0,-1--1--1,,1|(555,217)| 10,17,IV,314,125,40,20,3,3,0,0,0,0,0,0 1,18,17,6,1,0,0,0,0,0,0,-1--1--1,,1|(427,113)| 10,19,TAI,517,115,15,11,0,3,1,0,-1,0,0,0 1,20,19,6,0,1,0,0,0,0,0,-1--1--1,,1|(522,123)| 1,21,9,17,1,0,0,0,0,0,0,-1--1--1,,1|(619,117)| 10,22,Y,26,234,8,11,0,3,0,0,-1,0,0,0 1,23,22,17,1,0,0,0,0,0,0,-1--1--1,,1|(136,174)| 10,24,FCU,-30,223,18,11,0,3,1,0,-1,0,0,0 1,25,24,22,0,1,0,0,0,0,0,-1--1--1,,1|(-4,227)| 10,26,PTY,146,229,17,11,0,3,0,0,-1,0,0,0 1,27,26,22,0,0,0,0,0,0,0,-1--1--1,,1|(88,230)| 1,28,1,22,1,0,0,0,0,0,0,-1--1--1,,1|(246,182)| 1,29,106,26,0,1,0,0,0,0,0,-1--1--1,,1|(312,271)| 10,30,E,276,226,40,20,3,3,0,0,0,0,0,0 1,31,30,26,0,0,0,0,0,0,0,-1--1--1,,1|(206,226)| 10,32,EE,97,269,11,11,0,3,1,0,-1,0,0,0 1,33,32,26,0,1,0,0,0,0,0,-1--1--1,,1|(114,255)| 10,34,EK,143,190,13,11,0,3,1,0,-1,0,0,0 1,35,34,26,0,1,0,0,0,0,0,-1--1--1,,1|(143,202)| 1,36,53,26,0,1,0,0,0,0,0,-1--1--1,,1|(327,255)| 10,37,K,507,489,40,20,3,3,0,0,0,0,0,0 1,38,37,26,1,0,0,0,0,0,0,-1--1--1,,1|(162,348)| 10,39,NSPTY,224,195,27,11,0,3,1,0,-1,0,0,0 1,40,39,26,0,1,0,0,0,0,0,-1--1--1,,1|(187,210)| 10,41,SDVY,208,178,23,11,0,3,1,0,-1,0,0,0 1,42,41,26,0,1,0,0,0,0,0,-1--1--1,,1|(182,199)| 10,43,DE,386,227,12,11,0,3,0,0,-1,0,0,0 1,44,43,30,0,0,0,0,0,0,0,-1--1--1,,1|(351,226)| 10,45,TAE,316,186,17,11,0,3,1,0,-1,0,0,0 1,46,45,30,0,1,0,0,0,0,0,-1--1--1,,1|(305,196)| 1,47,106,43,0,1,0,0,0,0,0,-1--1--1,,1|(432,273)| 10,48,RW,397,174,15,11,0,3,1,0,-1,0,0,0 1,49,48,43,0,1,0,0,0,0,0,-1--1--1,,1|(393,193)| 1,50,1,43,0,0,0,0,0,0,0,-1--1--1,,1|(428,225)| 10,51,C,650,71,8,11,0,3,0,0,-1,0,0,0 1,52,51,9,1,0,0,0,0,0,0,-1--1--1,,1|(725,124)| 10,53,EY,490,278,12,11,0,3,1,0,-1,0,0,0 1,54,53,9,0,1,0,0,0,0,0,-1--1--1,,1|(626,250)| 10,55,G,715,52,8,11,0,3,0,0,-1,0,0,0 1,56,55,9,1,0,0,0,0,0,0,-1--1--1,,1|(769,130)| 10,57,IVST,708,373,19,11,0,3,0,0,-1,0,0,0 1,58,57,9,1,0,0,0,0,0,0,-1--1--1,,1|(764,306)| 10,59,PLSH,860,230,21,11,0,3,1,0,-1,0,0,0 1,60,59,9,0,1,0,0,0,0,0,-1--1--1,,1|(819,225)| 10,61,PLST,836,259,20,11,0,3,1,0,-1,0,0,0 1,62,61,9,0,1,0,0,0,0,0,-1--1--1,,1|(809,241)| 10,63,TIME STEP,829,301,41,11,0,3,1,0,-1,0,0,0 1,64,63,9,0,1,0,0,0,0,0,-1--1--1,,1|(806,266)| 10,65,APC,596,83,18,11,0,3,1,0,-1,0,0,0 1,66,65,51,0,1,0,0,0,0,0,-1--1--1,,1|(621,77)| 10,67,PY,419,34,40,20,3,3,0,0,0,0,0,0 1,68,67,51,1,0,0,0,0,0,0,-1--1--1,,1|(544,36)| 10,69,CDY,249,44,19,11,0,3,0,0,-1,0,0,0 1,70,69,67,0,0,0,0,0,0,0,-1--1--1,,1|(316,39)| 10,71,TSY,377,80,17,11,0,3,1,0,-1,0,0,0 1,72,71,67,0,1,0,0,0,0,0,-1--1--1,,1|(388,66)| 10,73,GT,74,20,12,11,0,3,0,0,-1,0,0,0 1,74,73,69,1,0,0,0,0,0,0,-1--1--1,,1|(149,38)| 10,75,T,66,93,7,11,0,3,0,0,-1,0,0,0 1,76,75,69,1,0,0,0,0,0,0,-1--1--1,,1|(105,75)| 1,77,22,69,1,0,0,0,0,0,0,-1--1--1,,1|(99,126)| 10,78,EGS,289,-17,17,11,0,3,1,0,-1,0,0,0 1,79,78,75,0,1,0,0,0,0,0,-1--1--1,,1|(178,36)| 10,80,EGT,-22,-4,17,11,0,3,1,0,-1,0,0,0 1,81,80,75,0,1,0,0,0,0,0,-1--1--1,,1|(18,40)| 10,82,NTR,-26,51,18,11,0,3,1,0,-1,0,0,0 1,83,82,75,0,1,0,0,0,0,0,-1--1--1,,1|(19,71)| 10,84,SGYT,-24,102,22,11,0,3,1,0,-1,0,0,0 1,85,84,75,0,1,0,0,0,0,0,-1--1--1,,1|(21,97)| 1,86,22,75,1,0,0,0,0,0,0,-1--1--1,,1|(30,163)| 10,87,CGT,71,-41,18,11,0,3,1,0,-1,0,0,0 1,88,87,73,0,1,0,0,0,0,0,-1--1--1,,1|(71,-18)| 1,89,80,73,0,1,0,0,0,0,0,-1--1--1,,1|(21,6)| 1,90,80,87,0,1,0,0,0,0,0,-1--1--1,,1|(17,-20)| 10,91,SCGT,-14,-40,22,11,0,3,1,0,-1,0,0,0 1,92,91,87,0,1,0,0,0,0,0,-1--1--1,,1|(23,-41)| 1,93,123,87,0,1,0,0,0,0,0,-1--1--1,,1|(134,-40)| 10,94,DK,524,382,14,11,0,3,0,0,-1,0,0,0 1,95,94,57,1,0,0,0,0,0,0,-1--1--1,,1|(597,386)| 1,96,37,57,1,0,0,0,0,0,0,-1--1--1,,1|(597,423)| 1,97,101,57,0,0,0,0,0,0,0,-1--1--1,,1|(684,427)| 10,98,TAK,739,407,18,11,0,3,1,0,-1,0,0,0 1,99,98,57,0,1,0,0,0,0,0,-1--1--1,,1|(728,395)| 1,100,57,37,1,0,0,0,0,0,0,-1--1--1,,1|(615,433)| 10,101,KD,668,469,14,11,0,3,0,0,-1,0,0,0 1,102,101,37,1,0,0,0,0,0,0,-1--1--1,,1|(604,468)| 10,103,ALK,563,434,18,11,0,3,1,0,-1,0,0,0 1,104,103,101,0,1,0,0,0,0,0,-1--1--1,,1|(610,449)| 1,105,37,101,1,0,0,0,0,0,0,-1--1--1,,1|(599,507)| 10,106,ALFA,470,311,22,11,0,3,1,0,-1,0,0,0 1,107,106,94,0,1,0,0,0,0,0,-1--1--1,,1|(492,340)| 1,108,103,94,0,1,0,0,0,0,0,-1--1--1,,1|(547,413)| 10,109,LED,626,308,40,20,3,3,0,0,0,0,0,0 1,110,109,94,1,0,0,0,0,0,0,-1--1--1,,1|(559,341)| 10,111,R,418,401,7,11,0,3,0,0,-1,0,0,0 1,112,111,94,1,0,0,0,0,0,0,-1--1--1,,1|(462,402)| 1,113,2,109,1,0,0,0,0,0,0,-1--1--1,,1|(633,242)| 10,114,TSLD,602,353,21,11,0,3,1,0,-1,0,0,0 1,115,114,109,0,1,0,0,0,0,0,-1--1--1,,1|(607,341)| 1,116,109,15,1,0,0,0,0,0,0,-1--1--1,,1|(562,305)| 10,117,NIC,521,328,16,11,0,3,1,0,-1,0,0,0 1,118,117,15,1,1,0,0,0,0,0,-1--1--1,,1|(533,306)| 10,119,CGS,852,-23,18,11,0,3,1,0,-1,0,0,0 1,120,119,55,0,1,0,0,0,0,0,-1--1--1,,1|(784,13)| 1,121,78,55,0,1,0,0,0,0,0,-1--1--1,,1|(499,16)| 1,122,78,119,0,1,0,0,0,0,0,-1--1--1,,1|(563,-20)| 10,123,PT,177,-38,11,11,0,3,1,0,-1,0,0,0 1,124,123,119,0,1,0,0,0,0,0,-1--1--1,,1|(503,-32)| 10,125,SCGS,850,61,22,11,0,3,1,0,-1,0,0,0 1,126,125,119,0,1,0,0,0,0,0,-1--1--1,,1|(850,25)| 1,127,43,123,0,1,0,0,0,0,0,-1--1--1,,1|(285,99)| 1,128,30,123,0,1,0,0,0,0,0,-1--1--1,,1|(227,96)| 10,129,LU,296,295,40,20,3,3,0,0,0,0,0,0 1,130,129,123,0,1,0,0,0,0,0,-1--1--1,,1|(236,130)| 10,131,NRU,177,308,19,11,0,3,1,0,-1,0,0,0 1,132,131,123,0,1,0,0,0,0,0,-1--1--1,,1|(177,142)| 10,133,SDC,142,-14,18,11,0,3,1,0,-1,0,0,0 1,134,133,123,0,1,0,0,0,0,0,-1--1--1,,1|(156,-24)| 1,135,45,123,0,1,0,0,0,0,0,-1--1--1,,1|(250,79)| 10,136,AY,93,410,40,20,3,3,0,0,0,0,0,0 1,137,136,111,1,0,0,0,0,0,0,-1--1--1,,1|(255,467)| 1,138,53,111,0,1,0,0,0,0,0,-1--1--1,,1|(457,333)| 10,139,EYVM,488,434,25,11,0,3,1,0,-1,0,0,0 1,140,139,111,0,1,0,0,0,0,0,-1--1--1,,1|(451,416)| 10,141,IEM,415,472,16,11,0,3,1,0,-1,0,0,0 1,142,141,111,0,1,0,0,0,0,0,-1--1--1,,1|(415,443)| 10,143,LR,383,447,12,11,0,3,1,0,-1,0,0,0 1,144,143,111,0,1,0,0,0,0,0,-1--1--1,,1|(396,428)| 10,145,M,397,324,40,20,3,3,0,0,0,0,0,0 1,146,145,111,1,0,0,0,0,0,0,-1--1--1,,1|(398,366)| 10,147,P,253,374,40,20,3,3,0,0,0,0,0,0 10,148,YEM,446,449,19,11,0,3,1,0,-1,0,0,0 1,149,148,111,0,1,0,0,0,0,0,-1--1--1,,1|(435,430)| 10,150,RCM,299,337,20,11,0,3,1,0,-1,0,0,0 1,151,150,145,0,1,0,0,0,0,0,-1--1--1,,1|(331,333)| 1,152,145,150,0,1,0,0,0,0,0,-1--1--1,,1|(344,330)| 1,153,123,150,0,1,0,0,0,0,0,-1--1--1,,1|(235,142)| 10,154,SCMG,334,387,25,11,0,3,1,0,-1,0,0,0 1,155,154,150,0,1,0,0,0,0,0,-1--1--1,,1|(320,367)| 10,156,STM,245,323,18,11,0,3,1,0,-1,0,0,0 1,157,156,150,0,1,0,0,0,0,0,-1--1--1,,1|(264,327)| 10,158,TAM,360,369,19,11,0,3,1,0,-1,0,0,0 1,159,158,150,0,1,0,0,0,0,0,-1--1--1,,1|(336,357)| 10,160,TMS,365,293,18,11,0,3,1,0,-1,0,0,0 1,161,160,150,1,1,0,0,0,0,0,-1--1--1,,1|(341,313)| 10,162,EM,371,247,14,11,0,3,1,0,-1,0,0,0 1,163,162,160,0,1,0,0,0,0,0,-1--1--1,,1|(369,263)| 1,164,123,160,0,1,0,0,0,0,0,-1--1--1,,1|(267,121)| 10,165,SCMS,406,259,24,11,0,3,1,0,-1,0,0,0 1,166,165,160,1,1,0,0,0,0,0,-1--1--1,,1|(385,285)| 1,167,131,147,0,1,0,0,0,0,0,-1--1--1,,1|(203,331)| 10,168,SPC,108,310,17,11,0,3,1,0,-1,0,0,0 1,169,168,147,0,1,0,0,0,0,0,-1--1--1,,1|(162,333)| 1,170,173,147,1,0,0,0,0,0,0,-1--1--1,,1|(220,316)| 10,171,TSU,264,262,17,11,0,3,1,0,-1,0,0,0 1,172,171,129,0,1,0,0,0,0,0,-1--1--1,,1|(270,269)| 10,173,U,227,292,8,11,0,3,0,0,-1,0,0,0 1,174,173,129,1,0,0,0,0,0,0,-1--1--1,,1|(246,298)| 1,175,30,173,1,0,0,0,0,0,0,-1--1--1,,1|(240,256)| 1,176,32,173,0,1,0,0,0,0,0,-1--1--1,,1|(156,278)| 1,177,131,173,0,1,0,0,0,0,0,-1--1--1,,1|(200,300)| 10,178,TSAY,40,455,22,11,0,3,1,0,-1,0,0,0 1,179,178,136,0,1,0,0,0,0,0,-1--1--1,,1|(55,441)| 1,180,22,136,1,0,0,0,0,0,0,-1--1--1,,1|(34,314)| 1,181,147,111,1,0,0,0,0,64,0,-1--1--1,,1|(321,410)| 1,182,53,1,0,1,0,0,0,0,0,-1--1--1,,1|(488,262)| 1,183,32,30,0,1,0,0,0,0,0,-1--1--1,,1|(165,252)| 1,184,53,67,0,1,0,0,0,0,0,-1--1--1,,1|(457,167)| 1,185,73,67,0,1,0,0,0,0,0,-1--1--1,,1|(225,25)| 1,186,75,67,1,1,0,0,0,0,0,-1--1--1,,1|(216,91)| 1,187,53,109,0,1,0,0,0,0,0,-1--1--1,,1|(537,287)| 1,188,53,136,1,1,0,0,0,0,0,-1--1--1,,1|(323,412)| \\\---/// Sketch information - do not modify anything except names V300 Do not put anything below this section - it will be ignored *Expanded Diagram $0,0,Times New Roman|12||0-0-0|0-0-0|0-0-0|-1--1--1|-1--1--1|96,96 10,1,SED,720,326,40,20,3,3,0,0,0,0,0,0 10,2,A,937,323,8,11,0,3,0,0,-1,0,0,0 1,3,2,1,0,0,0,0,0,0,0,-1--1--1,,1|(851,323)| 10,4,DII,782,230,13,11,0,3,0,0,-1,0,0,0 1,5,4,2,1,0,0,0,0,0,0,-1--1--1,,1|(859,252)| 10,6,FS,1069,322,11,11,0,3,0,0,-1,0,0,0 1,7,6,2,0,0,0,0,0,0,0,-1--1--1,,1|(1008,322)| 10,8,DIV,796,395,16,11,0,3,0,0,-1,0,0,0 1,9,8,4,1,0,0,0,0,0,0,-1--1--1,,1|(804,318)| 10,10,IV,514,208,40,20,3,3,0,0,0,0,0,0 1,11,10,4,1,0,0,0,0,0,0,-1--1--1,,1|(650,193)| 1,12,6,10,1,0,0,0,0,0,0,-1--1--1,,1|(880,198)| 10,13,Y,170,338,8,11,0,3,0,0,-1,0,0,0 1,14,13,10,1,0,0,0,0,0,0,-1--1--1,,1|(302,266)| 10,15,PTY,314,332,17,11,0,3,0,0,-1,0,0,0 1,16,15,13,0,0,0,0,0,0,0,-1--1--1,,1|(244,334)| 1,17,1,13,1,0,0,0,0,0,0,-1--1--1,,1|(433,276)| 10,18,E,469,329,40,20,3,3,0,0,0,0,0,0 1,19,18,15,0,0,0,0,0,0,0,-1--1--1,,1|(386,329)| 10,20,K,746,644,40,20,3,3,0,0,0,0,0,0 1,21,20,15,1,0,0,0,0,0,0,-1--1--1,,1|(332,475)| 10,22,DE,601,330,12,11,0,3,0,0,-1,0,0,0 1,23,22,18,0,0,0,0,0,0,0,-1--1--1,,1|(555,329)| 1,24,1,22,0,0,0,0,0,0,0,-1--1--1,,1|(653,327)| 10,25,C,918,144,8,11,0,3,0,0,-1,0,0,0 1,26,25,6,1,0,0,0,0,0,0,-1--1--1,,1|(1008,206)| 10,27,G,996,121,8,11,0,3,0,0,-1,0,0,0 1,28,27,6,1,0,0,0,0,0,0,-1--1--1,,1|(1060,214)| 10,29,IVST,987,505,19,11,0,3,0,0,-1,0,0,0 1,30,29,6,1,0,0,0,0,0,0,-1--1--1,,1|(1054,425)| 10,31,PY,640,99,40,20,3,3,0,0,0,0,0,0 1,32,31,25,1,0,0,0,0,0,0,-1--1--1,,1|(790,102)| 10,33,CDY,436,111,19,11,0,3,0,0,-1,0,0,0 1,34,33,31,0,0,0,0,0,0,0,-1--1--1,,1|(520,105)| 10,35,GT,222,82,12,11,0,3,0,0,-1,0,0,0 1,36,35,33,1,0,0,0,0,0,0,-1--1--1,,1|(315,104)| 10,37,T,218,170,7,11,0,3,0,0,-1,0,0,0 1,38,37,33,1,0,0,0,0,0,0,-1--1--1,,1|(264,148)| 1,39,13,33,1,0,0,0,0,0,0,-1--1--1,,1|(257,209)| 1,40,13,37,1,0,0,0,0,0,0,-1--1--1,,1|(174,253)| 10,41,DK,810,530,14,11,0,3,0,0,-1,0,0,0 1,42,41,29,1,0,0,0,0,0,0,-1--1--1,,1|(881,526)| 1,43,20,29,1,0,0,0,0,0,0,-1--1--1,,1|(854,565)| 1,44,46,29,0,0,0,0,0,0,0,-1--1--1,,1|(959,568)| 1,45,29,20,1,0,0,0,0,0,0,-1--1--1,,1|(886,583)| 10,46,KD,939,620,14,11,0,3,0,0,-1,0,0,0 1,47,46,20,1,0,0,0,0,0,0,-1--1--1,,1|(860,625)| 1,48,20,46,1,0,0,0,0,0,0,-1--1--1,,1|(856,666)| 10,49,LED,889,427,40,20,3,3,0,0,0,0,0,0 1,50,49,41,1,0,0,0,0,0,0,-1--1--1,,1|(834,481)| 10,51,R,632,570,7,11,0,3,0,0,-1,0,0,0 1,52,51,41,1,0,0,0,0,0,0,-1--1--1,,1|(709,576)| 1,53,2,49,1,0,0,0,0,0,0,-1--1--1,,1|(897,348)| 1,54,49,8,1,0,0,0,0,0,0,-1--1--1,,1|(812,424)| 10,55,LU,493,412,40,20,3,3,0,0,0,0,0,0 10,56,AY,258,550,40,20,3,3,0,0,0,0,0,0 1,57,56,51,1,0,0,0,0,0,0,-1--1--1,,1|(448,614)| 10,58,M,580,450,40,20,3,3,0,0,0,0,0,0 1,59,58,51,1,0,0,0,0,0,0,-1--1--1,,1|(596,535)| 10,60,P,441,506,40,20,3,3,0,0,0,0,0,0 1,61,62,60,1,0,0,0,0,0,0,-1--1--1,,1|(402,437)| 10,62,U,410,408,8,11,0,3,0,0,-1,0,0,0 1,63,62,55,1,0,0,0,0,0,0,-1--1--1,,1|(433,415)| 1,64,18,62,1,0,0,0,0,0,0,-1--1--1,,1|(426,365)| 1,65,13,56,1,0,0,0,0,0,0,-1--1--1,,1|(183,436)| 1,66,60,51,1,0,0,0,0,64,0,-1--1--1,,1|(523,550)| 1,67,35,31,0,1,0,0,0,0,0,-1--1--1,,1|(410,89)| 1,68,37,31,1,1,0,0,0,0,0,-1--1--1,,1|(397,168)| 10,69,EY,678,406,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,70,69,1,0,0,0,0,0,0,0,-1--1--1,,1|(692,376)| 10,71,TSSD,738,406,21,11,0,3,0,0,-1,0,0,0 1,72,71,1,0,0,0,0,0,0,0,-1--1--1,,1|(731,377)| 10,73,EY,942,370,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,74,73,2,0,0,0,0,0,0,0,-1--1--1,,1|(940,353)| 10,75,NSA,918,250,18,11,0,3,0,0,-1,0,0,0 1,76,75,2,0,0,0,0,0,0,0,-1--1--1,,1|(925,279)| 10,77,SDVA,966,274,23,11,0,3,0,0,-1,0,0,0 1,78,77,2,0,0,0,0,0,0,0,-1--1--1,,1|(955,292)| 10,79,TAI,678,250,15,11,0,3,0,0,-1,0,0,0 1,80,79,4,0,0,0,0,0,0,0,-1--1--1,,1|(723,241)| 10,81,EY,1158,298,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,82,81,6,0,0,0,0,0,0,0,-1--1--1,,1|(1115,309)| 10,83,PLSH,1134,250,21,11,0,3,0,0,-1,0,0,0 1,84,83,6,0,0,0,0,0,0,0,-1--1--1,,1|(1106,280)| 10,85,PLST,1158,334,20,11,0,3,0,0,-1,0,0,0 1,86,85,6,0,0,0,0,0,0,0,-1--1--1,,1|(1115,328)| 10,87,TIME STEP,1146,370,50,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,88,87,6,0,0,0,0,0,0,0,-1--1--1,,1|(1110,347)| 10,89,NIC,846,346,16,11,0,3,0,0,-1,0,0,0 1,90,89,8,0,0,0,0,0,0,0,-1--1--1,,1|(826,365)| 10,91,FCU,78,382,18,11,0,3,0,0,-1,0,0,0 1,92,91,13,0,0,0,0,0,0,0,-1--1--1,,1|(122,360)| 10,93,ALFA,234,370,22,11,0,3,0,0,-1,0,0,0 1,94,93,15,0,0,0,0,0,0,0,-1--1--1,,1|(270,353)| 10,95,EE,246,406,11,11,0,3,0,0,-1,0,0,0 1,96,95,15,0,0,0,0,0,0,0,-1--1--1,,1|(274,374)| 10,97,EK,270,442,13,11,0,3,0,0,-1,0,0,0 1,98,97,15,0,0,0,0,0,0,0,-1--1--1,,1|(288,393)| 10,99,EY,294,478,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,100,99,15,0,0,0,0,0,0,0,-1--1--1,,1|(302,411)| 10,101,NSPTY,378,358,27,11,0,3,0,0,-1,0,0,0 1,102,101,15,0,0,0,0,0,0,0,-1--1--1,,1|(347,346)| 10,103,SDVY,354,394,23,11,0,3,0,0,-1,0,0,0 1,104,103,15,0,0,0,0,0,0,0,-1--1--1,,1|(337,368)| 10,105,EE,378,298,20,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,106,105,18,0,0,0,0,0,0,0,-1--1--1,,1|(406,307)| 10,107,TAE,570,298,17,11,0,3,0,0,-1,0,0,0 1,108,107,18,0,0,0,0,0,0,0,-1--1--1,,1|(537,307)| 10,109,ALFA,582,382,31,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,110,109,22,0,0,0,0,0,0,0,-1--1--1,,1|(588,362)| 10,111,RW,654,382,15,11,0,3,0,0,-1,0,0,0 1,112,111,22,0,0,0,0,0,0,0,-1--1--1,,1|(632,360)| 10,113,APC,882,82,18,11,0,3,0,0,-1,0,0,0 1,114,113,25,0,0,0,0,0,0,0,-1--1--1,,1|(896,106)| 10,115,CGS,942,58,18,11,0,3,0,0,-1,0,0,0 1,116,115,27,0,0,0,0,0,0,0,-1--1--1,,1|(964,84)| 10,117,EGS,990,22,26,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,118,117,27,0,0,0,0,0,0,0,-1--1--1,,1|(992,64)| 10,119,TAK,1074,538,18,11,0,3,0,0,-1,0,0,0 1,120,119,29,0,0,0,0,0,0,0,-1--1--1,,1|(1037,524)| 10,121,EY,582,34,12,11,0,3,0,0,-1,0,0,0 1,122,121,31,0,0,0,0,0,0,0,-1--1--1,,1|(601,56)| 10,123,TSY,678,34,17,11,0,3,0,0,-1,0,0,0 1,124,123,31,0,0,0,0,0,0,0,-1--1--1,,1|(665,56)| 10,125,CGT,150,58,18,11,0,3,0,0,-1,0,0,0 1,126,125,35,0,0,0,0,0,0,0,-1--1--1,,1|(182,68)| 10,127,EGT,114,118,17,11,0,3,0,0,-1,0,0,0 1,128,127,35,0,0,0,0,0,0,0,-1--1--1,,1|(163,101)| 10,129,EGS,54,142,17,11,0,3,0,0,-1,0,0,0 1,130,129,37,1,0,0,0,0,0,0,-1--1--1,,1|(131,153)| 1,131,127,37,0,0,0,0,0,0,0,-1--1--1,,1|(164,142)| 10,132,NTR,54,190,18,11,0,3,0,0,-1,0,0,0 1,133,132,37,0,0,0,0,0,0,0,-1--1--1,,1|(134,179)| 10,134,SGYT,90,226,22,11,0,3,0,0,-1,0,0,0 1,135,134,37,0,0,0,0,0,0,0,-1--1--1,,1|(155,197)| 10,136,ALFA,770,590,31,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,137,136,41,0,0,0,0,0,0,0,-1--1--1,,1|(785,565)| 10,138,ALK,890,490,18,11,0,3,0,0,-1,0,0,0 1,139,138,41,0,0,0,0,0,0,0,-1--1--1,,1|(854,507)| 10,140,ALK,1002,658,27,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,141,140,46,0,0,0,0,0,0,0,-1--1--1,,1|(974,641)| 10,142,EY,1002,406,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,143,142,49,0,0,0,0,0,0,0,-1--1--1,,1|(961,412)| 10,144,TSLD,1002,442,21,11,0,3,0,0,-1,0,0,0 1,145,144,49,0,0,0,0,0,0,0,-1--1--1,,1|(961,437)| 10,146,EY,650,640,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,147,146,51,0,0,0,0,0,0,0,-1--1--1,,1|(642,611)| 10,148,EYVM,690,610,25,11,0,3,0,0,-1,0,0,0 1,149,148,51,0,0,0,0,0,0,0,-1--1--1,,1|(662,590)| 10,150,IEM,560,630,16,11,0,3,0,0,-1,0,0,0 1,151,150,51,0,0,0,0,0,0,0,-1--1--1,,1|(593,601)| 10,152,LR,570,540,12,11,0,3,0,0,-1,0,0,0 1,153,152,51,0,0,0,0,0,0,0,-1--1--1,,1|(597,552)| 10,154,YEM,600,650,19,11,0,3,0,0,-1,0,0,0 1,155,154,51,0,0,0,0,0,0,0,-1--1--1,,1|(612,616)| 10,156,TSU,500,470,17,11,0,3,0,0,-1,0,0,0 1,157,156,55,0,0,0,0,0,0,0,-1--1--1,,1|(498,452)| 10,158,EY,150,502,21,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,159,158,56,0,0,0,0,0,0,0,-1--1--1,,1|(188,518)| 10,160,TSAY,126,550,22,11,0,3,0,0,-1,0,0,0 1,161,160,56,0,0,0,0,0,0,0,-1--1--1,,1|(176,550)| 10,162,RCM,700,450,20,11,0,3,0,0,-1,0,0,0 1,163,162,58,1,0,0,0,0,0,0,-1--1--1,,1|(654,465)| 1,164,169,60,0,0,0,0,0,0,0,-1--1--1,,1|(387,477)| 10,165,SPC,486,574,17,11,0,3,0,0,-1,0,0,0 1,166,165,60,0,0,0,0,0,0,0,-1--1--1,,1|(470,550)| 10,167,EE,354,430,20,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,168,167,62,0,0,0,0,0,0,0,-1--1--1,,1|(381,419)| 10,169,NRU,366,466,19,11,0,3,0,0,-1,0,0,0 1,170,169,62,0,0,0,0,0,0,0,-1--1--1,,1|(383,442)| 1,171,127,125,0,0,0,0,0,0,0,-1--1--1,,1|(127,93)| 10,172,PT,70,10,20,11,0,2,0,2,-1,0,0,0,0-0-0,0-0-0,|0||255-0-0 1,173,172,125,0,0,0,0,0,0,0,-1--1--1,,1|(103,30)| 10,174,SCGT,40,70,22,11,0,3,0,0,-1,0,0,0 1,175,174,125,0,0,0,0,0,0,0,-1--1--1,,1|(90,64)| 10,176,PT,930,-26,20,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||255-0-0 1,177,176,115,0,0,0,0,0,0,0,-1--1--1,,1|(934,9)| 10,178,SCGS,846,-26,22,11,0,3,0,0,-1,0,0,0 1,179,178,115,0,0,0,0,0,0,0,-1--1--1,,1|(888,11)| 10,180,EGS,844,22,26,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||128-128-128 1,181,180,115,0,0,0,0,0,64,0,-1--1--1,,1|(890,38)| 1,182,58,162,1,0,0,0,0,0,0,-1--1--1,,1|(655,433)| 10,183,PT,780,460,20,11,0,2,0,3,-1,0,0,0,128-128-128,0-0-0,|0||255-0-0 1,184,183,162,0,0,0,0,0,0,0,-1--1--1,,1|(746,456)| 10,185,SCMG,780,430,25,11,0,3,0,0,-1,0,0,0 1,186,185,162,0,0,0,0,0,0,0,-1--1--1,,1|(744,438)| 10,187,STM,630,500,18,11,0,3,0,0,-1,0,0,0 1,188,187,162,0,0,0,0,0,0,0,-1--1--1,,1|(658,479)| 10,189,TAM,660,520,19,11,0,3,0,0,-1,0,0,0 1,190,189,162,0,0,0,0,0,0,0,-1--1--1,,1|(676,491)| 10,191,TMS,720,500,18,11,0,3,0,0,-1,0,0,0 1,192,191,162,0,0,0,0,0,0,0,-1--1--1,,1|(712,481)| 10,193,EM,690,550,14,11,0,3,0,0,-1,0,0,0 1,194,193,191,0,0,0,0,0,0,0,-1--1--1,,1|(700,530)| 1,195,183,191,0,0,0,0,0,0,0,-1--1--1,,1|(755,476)| 10,196,SCMS,740,550,24,11,0,3,0,0,-1,0,0,0 1,197,196,191,0,0,0,0,0,0,0,-1--1--1,,1|(732,531)| 10,198,SDC,20,30,18,11,0,3,0,0,-1,0,0,0 ///---\\\ :GRAPH SIMPLE_MACROECONOMIC_MOD :TITLE Simple Macroeconomic Model :X-AXIS Time :X-MIN 0 :X-MAX 15 :SCALE :VAR Y :VAR SED :VAR LED :VAR AY :SCALE :VAR IV :VAR DIV :GRAPH SIMPLE_MACROECONOMIC_MOD_2 :TITLE Simple Macroeconomic Model 2 :X-AXIS Time :X-MIN 0 :X-MAX 15 :SCALE :VAR K :VAR DK :SCALE :VAR IVST :VAR KD :SCALE :VAR P :SCALE :VAR M :GRAPH SIMPLE_MACROECONOMIC_MOD_3 :TITLE Simple Macroeconomic Model 3 :X-AXIS Time :X-MIN 0 :X-MAX 15 :SCALE :VAR E :VAR DE :SCALE :VAR U :L<%^E!@ 1:sdc1.vdf 1:Current.vdf 9:sdc1 15:0,0,0,0 19:100,0 4:Time 5:Y