Book Details

Emergent Macroeconomics : An Agent-Based Approach to Business Fluctuations

Publication year: 2008

ISBN: 978-88-470-0725-3

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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.


Subject: Physics and Astronomy, agent based computational economics, business cycle, economic growth, financial fragility, firms' size distribution, power laws, Complex Systems, Political Economy, Economic Systems, Industrial Organization, Macroeconomics, Monetary Economics, Financial Economics, Finance, general, Statistical Physics and Dynamical Systems