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Reconstructing macroeconomics : a perspective from statistical physics and combinatorial stochastic processes /
The authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points.
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Cambridge ; New York :
Cambridge University Press,
©2007.
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| Colección: | Japan-U.S. Center UFJ Bank monographs on international financial markets.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Introduction: a new approach to macroeconomics
- The methods: jump Markov process and random partitions
- Equilibrium as distribution: the role of demand in macroeconomics
- Uncertainty trap: policy ineffectiveness and long stagnation of the macroeconomy
- Slow dynamics of macro system: no mystery of inflexible prices
- Business cycles: an endogenous stochastic approach
- Labor market: a new look at the natural unemployment and Okun's law
- Demand saturation-creation and economic growth
- The types of investors and volatility in financial markets: analyzing clusters of heterogeneous agents
- Stock proces and the real economy: power-law versus exponential distributions.