ENGLISH

Emergent Macroeconomics: An Agent-Based Approach to Business Fluctuations

By Edoardo Gaffeo , Mauro Gallegati , Gianfranco Giulioni , Domenico Delli Gatti , Antonio Palestrini (auth.)

Book information

Publisher
Springer-Verlag Mailand
Year
2008
ISBN
978-88-470-0724-6, 978-88-470-0725-3
DOI
10.1007/978-88-470-0725-3
Language
english
Format
PDF
Filesize
2 MB (2566539 bytes)
Series
New Economic Windows
Edition
1
Pages
114\119
Orientation
yes
Scanned
yes
Time added
2013-08-01 04:00:00
Complexity; Economic Systems; Industrial Organizat

Description

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.

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