Monday, February 02, 2009

Emergent Macroeconomics: An agent-based approach to business fluctuations


Although I have not finished the book yet, I have found it really interesting. It gives good examples of the interactions between microeconomics and macroeconomics. It achieve this by using agent-based models to establish sound microfoundations of macroeconomics.


Abstract (From the Publisher): 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.


A copy can be downloaded from: http://www.dea.unian.it/gallegati/Emergent_Macroeconomics.pdf

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