9781107198944-1107198941-Interactive Macroeconomics: Stochastic Aggregate Dynamics with Heterogeneous and Interacting Agents (Physics of Society: Econophysics and Sociophysics)

Interactive Macroeconomics: Stochastic Aggregate Dynamics with Heterogeneous and Interacting Agents (Physics of Society: Econophysics and Sociophysics)

ISBN-13: 9781107198944
ISBN-10: 1107198941
Edition: 1
Author: Guilmi, Corrado Di, Gallegati, Mauro, Landini, Simone
Publication date: 2017
Publisher: Cambridge University Press
Format: Hardcover 302 pages
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Book details

ISBN-13: 9781107198944
ISBN-10: 1107198941
Edition: 1
Author: Guilmi, Corrado Di, Gallegati, Mauro, Landini, Simone
Publication date: 2017
Publisher: Cambridge University Press
Format: Hardcover 302 pages

Summary

Acknowledged authors Guilmi, Corrado Di, Gallegati, Mauro, Landini, Simone wrote Interactive Macroeconomics: Stochastic Aggregate Dynamics with Heterogeneous and Interacting Agents (Physics of Society: Econophysics and Sociophysics) comprising 302 pages back in 2017. Textbook and eTextbook are published under ISBN 1107198941 and 9781107198944. Since then Interactive Macroeconomics: Stochastic Aggregate Dynamics with Heterogeneous and Interacting Agents (Physics of Society: Econophysics and Sociophysics) textbook was available to sell back to BooksRun online for the top buyback price or rent at the marketplace.

Description

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.

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