In this presentation given in the United Marxist Pact Discord server, Arjunveer Singh and Shivam Mahajan of the Center for Cybernomics Research discuss their paper that extends the Dynamic Leontief Input-Output Model to cover accurate supply changes according to demand, international trade and other matters.
You can watch the presentation here.
You can read the paper here, while a summary of the paper can be found below:
This study extends the classical Leontief inputoutput model into a sophisticated, dynamic, and scalable framework suitable for modern large-scale economies comprising millions of sectors. We present a novel computational methodology that leverages sparse matrix techniques, Neumann series approximations, and demand-price elasticity feedback mechanisms to simulate and optimise economic production, investment and resource allocation over time. Our approach rigorously analyses error propagation, computational complexity, and real-world applicability, which are validated through extensive simulations and empirical data comparisons. This study aims to provide a robust platform for real-time, high-resolution economic planning.