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Delli Gatti D. et al. Macroeconomics from the Bottom-up

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Delli Gatti D. et al. Macroeconomics from the Bottom-up
Springer, 2011. — 135 p. — ISBN: 9788847019713
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.
Keywords » Agent-based Computational Economics - Industrial dynamics - Micro-foundedations - Validation of simulation models
Introducing Bottom-up Adaptive Macroeconomics. - The Making of the BAM Model. - The BAM Model at Work. - Empirical Validation.
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