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This valuable book contributes substantively to the current state-of-the-art of macroeconomics. It provides a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. Drawing from recent advances in agent-based computational modeling, the authors show how insights from dispersed fields can be fruitfully combined to improve our understanding of macroeconomic dynamics.
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This book contributes substantively to the current state-of-the-art of macroeconomics by providing a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. Drawing from recent advances in agent-based computational modeling, the authors show how insights from dispersed fields like the microeconomics of capital market imperfections, industrial dynamics and the theory of stochastic processes can be fruitfully combined to improve our understanding of macroeconomic dynamics.
This book should be a valuable resource for all researchers interested in analyzing macroeconomic issues without recurring to a fictitious representative agent.
Crucial Issues.- Stylized Facts of Industrial Dynamics: The Distribution of Firms’ Size.- Stylized Facts in Industrial Dynamics: Exit, Productivity, Income.- An Agent-based Model.- Where Do We Go from Here?.
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- EditoreSpringer
- Data di pubblicazione2010
- ISBN 10 8847015618
- ISBN 13 9788847015616
- RilegaturaCopertina flessibile
- Numero di pagine128
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Emergent Macroeconomics: An Agent-Based Approach to Business Fluctuations (New Economic Windows) by Gatti, Domenico [Paperback ]
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Emergent Macroeconomics
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Descrizione libro Taschenbuch. Condizione: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -This valuable book contributes substantively to the current state-of-the-art of macroeconomics. It provides a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. Drawing from recent advances in agent-based computational modeling, the authors show how insights from dispersed fields can be fruitfully combined to improve our understanding of macroeconomic dynamics. 128 pp. Englisch. Codice articolo 9788847015616
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Emergent Macroeconomics: An Agent-Based Approach to Business Fluctuations (New Economic Windows)
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ISBN 10: 8847015618
ISBN 13: 9788847015616
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Emergent Macroeconomics
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Descrizione libro Condizione: New. Series: New Economic Windows. Num Pages: 126 pages, 10 black & white tables, biography. BIC Classification: KCB; KCS; KFFK; KN; PHS. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 6. Weight in Grams: 191. . 2010. 1st ed. Softcover of orig. ed. 2008. Paperback. . . . . Codice articolo V9788847015616
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Emergent Macroeconomics : An Agent-Based Approach to Business Fluctuations
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Descrizione libro Taschenbuch. Condizione: Neu. Druck auf Anfrage Neuware - Printed after ordering - by exploiting the disequilibrium and non linear relationships among economic aggregates. Prom an empirical point of view, this approach resemblaces the old NBER view, according to which: 'the business cycle [. . . ] consists of - pansions occurring at about the same time in many economic activities, f- lowed by similairly general recessions, contractions, and revivals which merge into the expansion phase of the next cyxle' (Burns and Mitchell, 1946). They add that the movement, although recurrent, is not periodic, lasting from 1 to 12 years, and it is not divisible into shorter cycles. Of course, both approaches are not free from limits and inconsistencies. In spite of the equilibrium approach having nowadays became the workhorse of modern macroeconomics, for example, their users still find enormous d- ficulties in explaining why small shocks produce large fluctuations. A well known argument in multi sector real business cycle models (see e. g. Long and Plosser, 1983) is that as the number of sectors or industries considered in the analysis becomes large, aggregate volatility must tend to zero very quickly. This result, which follows directly from the Law of Large Numbers (LLN), rests on the hypothesis that each sector is periodically buffeted with idiosyncratic, identically and independently distributed shocks to Total F- tor Productivity (TFP). Codice articolo 9788847015616
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Descrizione libro Condizione: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. This valuable book contributes substantively to the current state-of-the-art of macroeconomics. It provides a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. . Codice articolo 5810667
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Descrizione libro Condizione: New. Series: New Economic Windows. Num Pages: 126 pages, 10 black & white tables, biography. BIC Classification: KCB; KCS; KFFK; KN; PHS. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 6. Weight in Grams: 191. . 2010. 1st ed. Softcover of orig. ed. 2008. Paperback. . . . . Books ship from the US and Ireland. Codice articolo V9788847015616
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