The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Simulation Models

  • Irma Adelman
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1333

Abstract

To clarify the concept of simulation requires placing simulation models in the context of available modelling approaches. One can distinguish models by their structure, size, complexity, purpose, solution technique and probabilistic specification. Generally, the purpose for which a model is specified, the state of knowledge in the area, and the relative importance of indirect effects should guide model specification (Robinson 1987).

This is a preview of subscription content, log in to check access

Bibliography

  1. Adelman, I. 1982. Simulation of economic processes. In International encyclopaedia of statistics. London: Macmillan.Google Scholar
  2. Adelman, I., and F.L. Adelman. 1959. The dynamic properties of the Klein-Goldberger model. Econometrica 27: 596–625.CrossRefGoogle Scholar
  3. Adelman, I., and S. Robinson. 1978. Income distribution policy in developing countries. Stanford: Stanford University Press.Google Scholar
  4. Balderston, F.E., and A. Hoggatt. 1963. Symposium on simulation models. Cincinnati: Southwest Publishing.Google Scholar
  5. Bergmann, B. 1974. A microsimulation of the macroeconomy with explicitly represented money flows. Annals of Economic and Social Measurement 3: 457–489.Google Scholar
  6. Bonini, C.P. 1963. Simulation of information and decision systems in the firm. Englewood Cliffs: Prentice-Hall.Google Scholar
  7. Box, G.E.P. 1954. The exploration and exploitation of response surfaces. Biometrics 10: 16–60.CrossRefGoogle Scholar
  8. Cyert, R.M., and J.G. March. 1963. A behavioral theory of the firm. Englewood Cliffs: Prentice-Hall.Google Scholar
  9. Dervis, K., J. de Melo, and S. Robinson. 1982. General equilibrium models for development planning. Cambridge: Cambridge University Press.Google Scholar
  10. Duesenberry, J.S., O. Eckstein, and G. Fromm. 1960. A simulation model of the United States economy in recession. Econometrica 28: 749–809.CrossRefGoogle Scholar
  11. Fair, R.C. 1974–1976. A model of macroeconomic activity, 2 vols. Cambridge, MA: Ballinger.Google Scholar
  12. Forrester, J.W. 1973. World dynamics, 2nd ed. Cambridge, MA: Wright Allen.Google Scholar
  13. Naylor, T.H., J.L. Balinfy, D.S. Burdick, and K. Chu. 1966. Computer simulation techniques. New York: Wiley.Google Scholar
  14. Orcutt, G.H., et al. 1961. Microanalysis of socioeconomic systems: A simulation study. New York: Harper.Google Scholar
  15. Pechman, J.A., and B.A. Okner. 1974. Who bears the tax burden? Washington, DC: Brookings.Google Scholar
  16. Phillips, A.W. 1957. Mechanical models in economic dynamics. Economica NS 17: 283–305.Google Scholar
  17. Robinson, S. 1987. Multisectoral models of developing countries. In Handbook of development economics, ed. H.B. Chenery and T.N. Srinivasan. Amsterdam: North-Holland.Google Scholar
  18. Rodgers, G.B., M.J.D. Hopkins, and R. Wery. 1978. Population, employment and inequality, Bachue-Philippines. Farnborough: Saxon House.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Irma Adelman
    • 1
  1. 1.