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portada Rethinking Macroeconomics With Endogenous Market Structure
Type
Physical Book
Publisher
Author
Year
2019
Language
English
Pages
248
Format
Hardcover
ISBN13
9781108482608
Categories

Rethinking Macroeconomics With Endogenous Market Structure

Marco Mazzoli; Matteo Morini; Pietro Terna (Author) · Cambridge University Press · Hardcover

Rethinking Macroeconomics With Endogenous Market Structure - Marco Mazzoli; Matteo Morini; Pietro Terna

New Book Imported to South Africa
Delivery: 26 Nov - 02 Dec Shipping: 5 to 6 business days.
R 2,836
R 2,836

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Synopsis "Rethinking Macroeconomics With Endogenous Market Structure "

The birth and death of firms is one of the main features of the business cycle. Yet mainstream DGSE macroeconomic models mostly ignore this phenomenon, thereby excluding any potential impact of economic policy on the probability of the birth and death of firms. Those DGSE models that do allow for this phenomenon do so at the cost of drastic simplifications, which effectively rule out causal links between the strategic interaction of industrial firms and the macroeconomy. This innovative new book develops a bottom-up, agent-based framework that shows how strategic interactions at the level of oligopolistic firms, and even at the level of individuals, affect entire industrial sectors and the equilibrium of the macroeconomy. It will appeal to academic researchers and graduate students working in computational economics, agent-based modelling and econophysics, as well as mainstream economists interested in learning more about alternatives to DGSE models in macroeconomics.

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