Li, Wu (2008): A multiagent growth model based on the von NeumannLeontief framework.

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Abstract
This paper presents a discretetime growth model to describe the dynamics of a multiagent economy, and the model consists of production process, exchange process, price and technology adjustment processes etc. Technologies of agents in each period are represented by a technology matrix pair, and some properties of PerronFrobenius eigenvalues and eigenvectors of technology matrix pairs are discussed. An exchange model is also developed to serve as the exchange part of the growth model. And equilibrium paths of the growth model are proved to be balanced growth paths sharing a unique normalized price vector. Though this paper focuses mainly on the case of n agents and n goods, the growth model can also deal with the case of m agents and n goods. A numerical example with 6 agents and 4 goods is given, which describes the dynamics of a twocountry economy and has endogenous price fluctuations and business cycles.
Item Type:  MPRA Paper 

Original Title:  A multiagent growth model based on the von NeumannLeontief framework 
Language:  English 
Keywords:  von Neumann’s expanding economic model, inputoutput model, dynamic general equilibrium, disequilibrium, multicountry economic model 
Subjects:  B  History of Economic Thought, Methodology, and Heterodox Approaches > B5  Current Heterodox Approaches > B51  Socialist; Marxian; Sraffian C  Mathematical and Quantitative Methods > C6  Mathematical Methods; Programming Models; Mathematical and Simulation Modeling > C68  Computable General Equilibrium Models O  Economic Development, Technological Change, and Growth > O4  Economic Growth and Aggregate Productivity > O41  One, Two, and Multisector Growth Models D  Microeconomics > D5  General Equilibrium and Disequilibrium > D58  Computable and Other Applied General Equilibrium Models F  International Economics > F4  Macroeconomic Aspects of International Trade and Finance > F43  Economic Growth of Open Economies D  Microeconomics > D5  General Equilibrium and Disequilibrium > D51  Exchange and Production Economies C  Mathematical and Quantitative Methods > C6  Mathematical Methods; Programming Models; Mathematical and Simulation Modeling > C67  InputOutput Models D  Microeconomics > D5  General Equilibrium and Disequilibrium E  Macroeconomics and Monetary Economics > E3  Prices, Business Fluctuations, and Cycles > E32  Business Fluctuations; Cycles C  Mathematical and Quantitative Methods > C0  General > C02  Mathematical Methods F  International Economics > F1  Trade 
Item ID:  11302 
Depositing User:  Wu LI 
Date Deposited:  30. Oct 2008 09:20 
Last Modified:  14. Feb 2013 19:22 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/11302 