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Title: Mankiw–Romer–Weil model application to the world SARS COVID-19 pandemic airworthiness support business prospective evaluation
Authors: Kasianov, Vladimir Aleksandrovich
Goncharenko, Andriy Viktorovich
Keywords: SARS
airworthiness support
prospective evaluation
Mankiw–Romer–Weil model
Solow–Swan model
production function
capital factor
labor factor
elasticity of production
economic sectors portions
recursive model
preferences entropy
consumption component
objective functional
Issue Date: 25-Apr-2021
Publisher: National Aviation University
Citation: Kasianov V. A. Mankiw–Romer–Weil model application to the world SARS COVID-19 pandemic airworthiness support business prospective evaluation / V. A. Kasianov, A. V. Goncharenko. – K. : NAU, Electronic Repository. – 2021. – 23 p.
Abstract: Application of the modified Mankiw–Romer–Weil macroeconomics model with the production function is of Cobb–Douglas type is proposed as an attempt for the prospective evaluation, on the example of the airworthiness support business. The assessments are even more actual for the hard pandemic period of SARS COVID-19. The important economic sectors coefficients are modeled as preferences functions of the entropy paradigm. The paper was prepared as a report to the regular every second year International Conference (the Fifteenth International Scientific Conference “AVIA-2021”, which was held at the National Aviation University on April 20-22, 2021). The presented version of the theoretical developments contains main ideas. Some illustrative example simulated with the help of the explained specific recursive procedure is show. A couple of necessary diagrams as a result of the calculation experimentation are plotted.
Description: N. Gregory Mankiw, David Romer, and David Weil proposed and developed the Solow–Swan model. The initial model was created by Robert Solow and Trevor Swan in 1956. The cornerstone of the theory was a production function of the Cobb–Douglas type The Solow–Swan model is with the production function of Cobb–Douglas type. The essential element of the models is the economic sectors portions being found from the proportions. Recursive model with the preferences entropy is a variant of the model adjusted to the formulations of the problems with the considerations of the splitting of the outputs according to the optimal preferences distributions with respect to the preferences uncertainties degree measures (entropies) conditional maximizations. The theory of subjective analysis happened to be rather useful and helpful for creation and development of the flurry of many applicable problems based upon the entropy paradigm.
Appears in Collections:Scientific Electronic Publications / Наукові публікації кафедри підтримання льотної придатності авіаційної техніки

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