I am seeking help in specifying a dynamic economic model in MTK. Although I have followed the evolution of MTK since its creation, I have difficulties with “function” as a function can be the whole model, a function of parameters or a function of variables. My aim is to simulate the dynamic model written in MTK to generate synthetic timeseries and then take it across to DataDrivenDiffEq for model discovery.
The nonlinear model consists of a system of three first order ODEs:
with four behavioural/variable functions π, Φ(λ) , κ(π) and g(κ(π), ω) of the form:
the parameters are: t η κ C b δ β a Φ₁ Φ₂ Φ₃ κ₁ κ₂ κ₃ r
and the variables are: ω(t), λ(t), d_f (t)
This nonlinear formulation is already relatively simple as it is specified in logarithmic derivative terms. Otherwise it is even more complicated and nonlinear. Help in defining and registering the various types of functions would be much appreciated.