ISBN: 9780511331985

In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial asp… Mehr…

In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them.In mainstream macroeconomics sound microfoundations for macroeconomics have meant incorporating sophisticated intertemporal optimization by representative agents into models.Optimal growth theory, once meant to be normative, is now taught as a descriptive theory in mainstream macroeconomic courses.In neoclassical equilibria flexible prices led the economy to the state of full employment and marginal productivities are all equated.Professors Aoki and Yoshikawa contrariwise show that such equilibria are not possible in economies with a large number of agents of heterogeneous types.They employ a set of statistical dynamical tools via continuous-time Markov chains and statistical distributions of fractions of agents by types available in the new literature of combinatorial stochastic processes, to reconstruct macroeconomic models.; PDF; Reference > Research & information: general > Decision theory: general > Risk assessment, Cambridge University Press<

2006, ISBN: 9780511331985

In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial asp… Mehr…

In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them. In mainstream macroeconomics sound microfoundations for macroeconomics have meant incorporating sophisticated intertemporal optimization by representative agents into models. Optimal growth theory, once meant to be normative, is now taught as a descriptive theory in mainstream macroeconomic courses. In neoclassical equilibria flexible prices led the economy to the state of full employment and marginal productivities are all equated. Professors Aoki and Yoshikawa contrariwise show that such equilibria are not possible in economies with a large number of agents of heterogeneous types. They employ a set of statistical dynamical tools via continuous-time Markov chains and statistical distributions of fractions of agents by types available in the new literature of combinatorial stochastic processes, to reconstruct macroeconomic models. eBook Masanao Aoki PDF, Cambridge University Press, 06.11.2006, Cambridge University Press, 2006<

ISBN: 9780511331985

Reconstructing Macroeconomics ab 42.49 € als pdf eBook: A Perspective from Statistical Physics and Combinatorial Stochastic Processes. Aus dem Bereich: eBooks, Belletristik, Erzählungen, … Mehr…

Reconstructing Macroeconomics ab 42.49 € als pdf eBook: A Perspective from Statistical Physics and Combinatorial Stochastic Processes. Aus dem Bereich: eBooks, Belletristik, Erzählungen, Medien > Bücher, Reconstructing Macroeconomics - eBook als pdf von Masanao Aoki - Cambridge University Press - 9780511331985<

2006, ISBN: 9780511331985

A Perspective from Statistical Physics and Combinatorial Stochastic Processes, eBooks, eBook Download (PDF), Auflage, [PU: Cambridge University Press], [ED: 1], Cambridge University Press… Mehr…

A Perspective from Statistical Physics and Combinatorial Stochastic Processes, eBooks, eBook Download (PDF), Auflage, [PU: Cambridge University Press], [ED: 1], Cambridge University Press, 2006<

ISBN: 9780511331985

Reconstructing Macroeconomics - A Perspective from Statistical Physics and Combinatorial Stochastic Processes: ab 42.49 € Medien > Bücher > E-books, [PU: Cambridge University Press]