Mankiw–Romer–Weil model application to the world SARS COVID-19 pandemic airworthiness support business prospective evaluation

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.