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.
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- Full title :Reconstructing macroeconomics : a perspective from statistical physics and combinatorial stochastic processes / Masanao Aoki, Hiroshi Yoshikawa.
Summary
The authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points.
Read More ↓Edition Statements
- Publication Date:©2007.
Publication Statements
- Publisher(s):Cambridge University Press
- Place of Publication:Cambridge
- Language:eng
- Publication Date:©2007.
The Physical Object
- Description:1 online resource (1 recurso electrónico.).
Edition Identifiers
- ISBN:9780511335204, 0511335202, 9780511333286, 0511333285, 0511334621, 9780511334627, 9780511510670, 0511510675, 9780511333965, 051133396X, 1281040274, 9781281040275, 0521831067, 9780521831062
- oclc:on1127444757
- Dewey Decimal:339.01/51923
Table of Contents
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.
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