Interactive Macroeconomics: Stochastic Aggregate Dynamics With Heterogeneous And Interacting Agents Hardcover

India

Corrado Di Guilmi

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.

1107198941

9781107198944

English

Cambridge University Press

01 Oct 2018

302

Corrado Di Guilmi earned his Ph.D. in Economics from Universita Politecnica delle Marche, Ancona, Italy in 2008. He is currently working as Senior Lecturer in the Economics Discipline Group of the University of Technology, Sydney. He is associate editor of the Review of Keynesian Economics and of Complexity Economics. He was visiting fellow at the Department of Economics of the University of Cambridge, the Department of Applied Mathematics of the Australia National University, the New School for Social Research in New York. His research interests include business cycle, agent-based modelling, nonlinear modelling applications in economics of complex system theory and Post-Keynesian economics. Mauro Gallegati is Professor of Advanced Macroeconomics at the Universita Politecnica delle Marche, Italy. He obtained his Ph.D. in Economics from the Universita degli Studi di Ancona, Italy in 1989. He has been visiting professor in several universities including Stanford University, Columbia University and Massachusetts Institute of Technology.

Simone Landini

Mauro Gallegati