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System Dynamics
Economic Modeling


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System Dynamics Economic Modeling

This page is a work-in-progress. In its current form, it draws on a publication list developed by the Economics Chapter of the System Dynamics Society. Check back periodically for updates.

Selected Bibliography

Institutional and Evolutionary Economics and System Dynamics
• Atkinson, G. 2004. Common Ground for Institutional Economics and System Dynamics Modeling. System Dynamics Review 20 (4): 275-286

• Saeed, K. 2004. Designing an environmental mitigation banking institution for linking the size of economic activity to environmental capacity. Journal of Economic Issues 38 (4): 909-937

• Radzicki, M. 2003. Mr. Hamilton, Mr. Forrester and a Foundation for Evolutionary Economics. Journal of Economic Issues 37(1): 133-173

• Harvey, J. T. 2002. Keynes' chapter 22: A system dynamics model. Journal of Economic Issues 36 (2): 373-382

• Harvey, J. T. and K. Klopfenstein. 2001. International capital and mexican development: A system dynamics model. Journal of Economic Issues 35 (2): 439-450

• Radzicki, M. J. and J. D. Sterman 1994. Evolutionary Economics and System Dynamics. Evolutionary Concepts in Contemporary Economics. R. England. Ann Arbor, University of Michigan Press: 61-89

• Radzicki, M. J. 1990. Methodologia Oeconomiae et Systematis Dynamis. System Dynamics Review 6(2): 1213-147

• Radzicki, M. J. 1990. Institutional Dynamics, Deterministic Chaos, and Self-Organizing Systems. Journal of Economic Issues 24(1): 57-102

Complex Economic Dynamics and System Dynamics
• Brens, M. and J. Sturis. 1991. Local and Global Bifurcations in a Model of the Economic Long Wave. System Dynamics Review 7(1): 41-60

• Sterman, J. D. 1989. Deterministic Chaos in an Experimental Economic System. Journal of Economic Behavior and Organization 12: 1-28

• Rasmussen, S., E. Mosekilde and J. D. Sterman. 1985. Bifurcations and Chaotic Behavior in a Simple Model of the Economic Long Wave. System Dynamics Review 1(1): 92-110

Environmental Economics and System Dynamics
• Low, C., Ostrom, Wilson, Simon. 1999. Human-Ecosystem Interactions: A Dynamic Integrated Model. Ecological Economics 31: 227-242

Development Economics and System Dynamics
• Saeed, K. 1998. Towards Sustainable Development, 2nd Edition: Essays on System Analysis of National Policy. Aldershot, England: Ashgate Publishing Company.read online...

Micro-Economics and System Dynamics
• Sice, P., E. Mosekilde, A. Moscardini, K. Lawler and I. French. 2000. Using System Dynamics to Analyse Interactions in Duopoly Competition. System Dynamics Review 16(2): 113

General Economics and System Dynamics
• Heij, C. System Dynamics in Economic & Financial Models. New York, John Wiley & Sons, Inc., 1997

• Mosekilde, E., J. S. Thomsen and J. D. Sterman. 1992. Nonlinear Interactions in the Economy. Economic Evolution and Demographic Change. G. Haag, U. Müller and K. Troitzsch. Berlin, Springer-Verlag: 35-61

• Kivijarvi, H. and M. Tuominen. 1986. Solving Economic Optimal Control Problems with System Dynamics. System Dynamics Review 2(2): 138-149

• Sterman, J. D. 1985. A Behavioral Model of the Economic Long Wave. Journal of Economic Behavior and Organization 6(1): 17-53

• Koch, D. L. and N. J. Mass. 1981. The Florida Economy-Elements of a System Dynamics Approach. Business Economic 16(1): 21-25

• Forrester, J. W. Information Sources for Modeling the National Economy.Journal of the American Statistical Association 75, 371 (1980): 555-574

• Low, G. W. 1980. The Multiplier-Accelerator Model of Business Cycles Interpreted from a System Dynamics Perspective. Elements of the System Dynamics Method. J. Randers. Cambridge MA, Producivity Press: 76-94

• Forrester, J. W. 1977. Understanding the Changing Basis for Economic Growth - an Application of System Dynamics. Computers & People 26(1): 12, 26-27

• Forrester, J. W. 1977. Growth Cycles. De Economist 125(4): 525-543.

• Van Duijin, J. J. 1977. The Long Wave in Economic Life. De Economist 125(4): 32.