Analysis of models of dynamic economic systems

D.A. Kanametova

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Abstract: The paper analyzes models of dynamic economic systems: the Solow model, also known as the single factor growth model, is a simple model that describes economic growth based on capital accumulation and technological progress; Dean’s Dynamic New Keynesian Phillips Curve Model, which is a development of New Keynesianism and uses dynamic models to describe the process of forming inflationary expectations; the Dynamic Random Equilibrium Model (DSGE), which combines elements of microeconomics and macroeconomics, using formal mathematical methods to describe the interactions
between agents in economy. The advantages and disadvantages of these models, as well as the scope of their application are considered.

Keywords: system, dynamic system, inflation, growth, model, variable, process

For citation. BKanametova D.A. Analysis of models of dynamic economic systems. News of the Kabardino-Balkarian Scientific Center of RAS. 2023. No. 4(114). Pp. 88–97. DOI: 10.35330/1991-6639-2023-4-114-88-97

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Information about the author

Kanametova Dana Aslanbievna, candidate of economic sciences, researcher, Institute of Applied Mathematics and Automation – branch of the Kabardino-Balkarian Scientific Center of the RAS;
360000, Russia, Nalchik, 89 A Shortanov street;
danocha_999@mail.ru