The generation of business fluctuations: financial fragility and mean-field interactions
In: Dynamische Wirtschaftstheorie 26
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In: Dynamische Wirtschaftstheorie 26
In: CAMA Working Paper No. 66/2020
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In: CAMA Working Paper No. 16/2016
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In: CAMA Working Paper 42/2013, July 2013
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In: Global Analysis of Dynamic Models in Economics and Finance, S. 63-81
In: Journal of economic dynamics & control, Band 35, Heft 8, S. 1151-1171
ISSN: 0165-1889
In: Physics of society
In: Econophysics and society
Offers a systematic and integrated treatment of original concepts and tools, together with applications, for the development of an alternative micro-foundation framework.
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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In: CAMA Working Paper No. 35/2020
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In: Journal of economic dynamics & control, Band 48, S. 349-373
ISSN: 0165-1889
In: CAMA Working Paper No. 49/2021
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