Model-SIM from chapter 3 of Wynn Godley and Marc Lavoie's  Monetary Economics.  Simplest model with government money that is also stock-flow consistent.
Model-SIM from chapter 3 of Wynn Godley and Marc Lavoie's Monetary Economics. Simplest model with government money that is also stock-flow consistent.
Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.
Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.
Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.
Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.
 This causal loop diagram illustrates the interconnected factors affecting the economic empowerment of Congolese refugee women in Rwanda, with economic dependency as the central problem reinforced by limited access to vocational training, employment opportunities, and financial services. The diagram
This causal loop diagram illustrates the interconnected factors affecting the economic empowerment of Congolese refugee women in Rwanda, with economic dependency as the central problem reinforced by limited access to vocational training, employment opportunities, and financial services. The diagram shows two key reinforcing loops: one where vocational training leads to employment and income generation, which reduces dependency and improves access to further training (R1), and another where income generation builds self-confidence and skills recognition, leading to better employment opportunities (R2), while language barriers and cultural constraints act as inhibiting factors throughout the system.

4 months ago
Overview of Part G Ch 27 to 30 of Mitchell Wray and Watts Textbook see  IM-164967  for book overview
Overview of Part G Ch 27 to 30 of Mitchell Wray and Watts Textbook see IM-164967 for book overview
  Explanation:    Explanation:  This model presents the COVID-19 outbreak in Burnie and how the government reacts to it. Moreover, the model also illustrates how the economy in Burnie is impacted by the pandemic. The possible stages of residents when the infectious disease spreads in Burnie can be c
Explanation:
Explanation:
This model presents the COVID-19 outbreak in Burnie and how the government reacts to it. Moreover, the model also illustrates how the economy in Burnie is impacted by the pandemic. The possible stages of residents when the infectious disease spreads in Burnie can be concluded as Susceptible, Infection and Recovery, which are used as the main data in this model. However, the improvement of decreasing of reported infection rates of this infectious disease and increasing of recovery rates are contributed by the implementation of the Government Health Policy. 

Assumption
The decrease of both infection rate and economic growth are all influenced by the Government Health Policy simultaneously. The Government Health Policy is only triggered when there are 10 cases reported. However, the increase in reporting COVID-19 cases affects economic growth negatively. 

Interesting Insights:
There are two interesting insights that have been revealed from the simulation. First, the death rate continuously increased even though the infection rate goes down. However, the increase in testing rates contributed to the stability of the death rate towards the end of the week. Moreover, higher testing rates also trigger faster government intervention, which can reduce infectious cases.  Second, as the Government Health Policy limited the chance of going out and shopping, the economic growth is negative due to the higher cases. 

 This model is designed for the local government of Burnie, Tasmania, aiming to help with balancing COIVD-19 and economic impacts during a possible outbreak.   The model has been developed based upon the SIR model (Susceptible, Infected, Recovered) model used in epidemiology.   It lists several poss

This model is designed for the local government of Burnie, Tasmania, aiming to help with balancing COIVD-19 and economic impacts during a possible outbreak. 

The model has been developed based upon the SIR model (Susceptible, Infected, Recovered) model used in epidemiology. 

It lists several possible actions that can be taken by the government during a COVID-19 outbreak and provide the economic impact simulation. 

The model allow users to Change the government policies factors (Strength of Policies) and simulate the total economic impact.

Interestingly, the government plicies largely help with controlling the COVID outbreak. However, the stronger the policies are, the larger impact on local economy

     Description:    
Model of Covid-19 outbreak in Burnie, Tasmania  This model was designed from the SIR
model(susceptible, infected, recovered) to determine the effect of the covid-19
outbreak on economic outcomes via government policy.    Assumptions:    The government policy is triggered when t

Description:

Model of Covid-19 outbreak in Burnie, Tasmania

This model was designed from the SIR model(susceptible, infected, recovered) to determine the effect of the covid-19 outbreak on economic outcomes via government policy.

Assumptions:

The government policy is triggered when the number of infected is more than ten.

The government policies will take a negative effect on Covid-19 outbreaks and the financial system.

Parameters:

We set some fixed and adjusted variables.

Covid-19 outbreak's parameter

Fixed parameter: Background disease.

Adjusted parameters: Infection rate, recovery rate. Immunity loss rate can be changed from vaccination rate.

Government policy's parameters

Adjusted parameters: Testing rate(from 0.15 to 0.95), vaccination rate(from 0.3 to 1), travel ban(from 0 to 0.9), social distancing(from 0.1 to 0.8), Quarantine(from 0.1 to 0.9)

Economic's parameters

Fixed parameter: Tourism

Adjusted parameter: Economic growth rate(from 0.3 to 0.5)

Interesting insight

An increased vaccination rate and testing rate will decrease the number of infected cases and have a little more negative effect on the economic system. However, the financial system still needs a long time to recover in both cases.

From Schluter et al 2017  article  A framework for mapping and comparing behavioural theories in models of social-ecological systems COMSeS2017  video .   See also Balke and Gilbert 2014 JASSS  article  How do agents make decisions? (recommended by Kurt Kreuger U of S)
From Schluter et al 2017 article A framework for mapping and comparing behavioural theories in models of social-ecological systems COMSeS2017 video. See also Balke and Gilbert 2014 JASSS article How do agents make decisions? (recommended by Kurt Kreuger U of S)
11 11 months ago