Macroeconomics from the Bottom-up

✍ Scribed by Domenico Delli Gatti, Saul Desiderio, Edoardo Gaffeo, Pasquale Cirillo, Mauro Gallegati (auth.)

• Publisher: Springer-Verlag Mailand
• Year: 2011
• Tongue: English
• Leaves: 135
• Series: New Economic Windows 1
• Edition: 1
• Category: Library

✦ Synopsis

The recent economic events driven by the big financial crisis of 2007-08 has cogently put to the fore the limits and drawbacks of the ruling research paradigm in macroeconomics. This volume goes to the root of the problem by offering a workable alternative to the renowned issue of the microeconomic foundations of macroeconomic theory. Bringing together techniques from agent-based computational economics and statistical validation, the authors set the stage for a paradigmatic shift, elaborate on it with practical examples and provide an agenda for future research.

✦ Table of Contents

Front Matter....Pages i-xii
Introducing Bottom-up Adaptive Macroeconomics ....Pages 1-24
The Making of the BAM Model....Pages 25-44
The BAM Model at Work....Pages 45-83
Empirical Validation....Pages 85-99
Conclusions....Pages 101-110
Back Matter....Pages 111-122

✦ Subjects

Macroeconomics/Monetary Economics; Economic Growth; Statistics for Business/Economics/Mathematical Finance/Insurance; Industrial Organization; Microeconomics