Interactive macroeconomics: stochastic aggregate dynamics with heterogeneous and interacting agents

One of the major problems of macroeconomic theory is the way in which the people exchange goods in decentralized market economies. There are major disagreements among macroeconomists regarding tools to influence required outcomes. Since the mainstream efficient market theory fails to provide an inte...

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Hauptverfasser: Di Guilmi, Corrado 1972- (VerfasserIn), Landini, Simone (VerfasserIn), Gallegati, Mauro 1958- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Cambridge Cambridge University Press 2017
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Zusammenfassung:One of the major problems of macroeconomic theory is the way in which the people exchange goods in decentralized market economies. There are major disagreements among macroeconomists regarding tools to influence required outcomes. Since the mainstream efficient market theory fails to provide an internal coherent framework, there is a need for an alternative theory. The book provides an innovative approach for the analysis of agent based models, populated by the heterogeneous and interacting agents in the field of financial fragility. The text is divided in two parts; the first presents analytical developments of stochastic aggregation and macro-dynamics inference methods. The second part introduces macroeconomic models of financial fragility for complex systems populated by heterogeneous and interacting agents. The concepts of financial fragility and macroeconomic dynamics are explained in detail in separate chapters. The statistical physics approach is applied to explain theories of macroeconomic modelling and inference
Beschreibung:Title from publisher's bibliographic system (viewed on 11 Aug 2017)
Beschreibung:1 online resource (xx, 285 pages)
ISBN:9781108182898
DOI:10.1017/9781108182898

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