The Generation of Business Fluctuations

Corrado Di Guilmi

ISBN 10: 363158119X / ISBN 13: 9783631581193

Edité par Peter Lang, Peter Lang Jul 2008, 2008

A propos de cet article

Neuware -The limits imposed on economic modeling by the representative agent hypothesis have prevented dynamic analysis from fully exploring the links between the micro and macro level of the economic system. This book presents developments and applications of the innovative techniques of dynamic stochastic aggregation, first proposed by Masanao Aoki, through an implementation in a New Keynesian financial fragility framework. The introduction in macroeconomics of statistical mechanics tools, such as mean-field interaction, statistical entropy and master equation, constitutes a step toward a new definition of microfoundation and allows an integrated modeling of the relationships between micro financial variables and aggregate indicators. 152 pp. Englisch.

N° de réf. du vendeur 9783631581193

Détails bibliographiques

• Titre: The Generation of Business Fluctuations
• Éditeur: Peter Lang, Peter Lang Jul 2008
• Date de parution: 2008
• Langue: anglais
• ISBN à 10 chiffres: 363158119X
• ISBN à 13 chiffres: 9783631581193
• Reliure: Taschenbuch
• État de l'article: Neu
• Dimensions: 210 L x 148 H x 9 P (en millimètres) 210 millimètres de largeur par 148 millimètres de hauteur par 9 millimètres de profondeur
• Poids: 207 grammes

A propos de ce titre

Synopsis

The limits imposed on economic modeling by the representative agent hypothesis have prevented dynamic analysis from fully exploring the links between the micro and macro level of the economic system. This book presents developments and applications of the innovative techniques of dynamic stochastic aggregation, first proposed by Masanao Aoki, through an implementation in a New Keynesian financial fragility framework. The introduction in macroeconomics of statistical mechanics tools, such as mean-field interaction, statistical entropy and master equation, constitutes a step toward a new definition of microfoundation and allows an integrated modeling of the relationships between micro financial variables and aggregate indicators.

À propos de l?auteur

The Author : Corrado Di Guilmi earned his Ph.D. in Political Economy from the Università Politecnica delle Marche (Italy). He has been visiting fellow at the Faculty of Economics of the University of Cambridge and at the Department of Applied Mathematics of the Australian National University.