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Pages 146-147

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From page 146...
... Dynamic models require some stochastic processes in order to provide a meaningful representation of some of the processes being modeled. Deterministic models contain operating characteristics that have fixed rules, such as are embodied in an income tax algorithm, with no variability due to chance selection.
From page 147...
... At the same time, another approach was undertaken under the leadership of Guy Orcutt in the 1970s to develop DYNASIM, a dynamic microanalytic simulation model embodying expanded household-sector submodels (Orcutt et al., 1976~. The initial underlying computer system, MASH, was written in FORTRAN for a DECsystem-10 (Sadowsky, 1977~.


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