Macroeconomics from the Bottom-up

Online-Ressource (XII, 124p. 20 illus, digital)

New Economic Windows ; 1

Includes bibliographical references and index

Title Page; Copyright Page; Preface and Acknowledgements; Table of Contents; Chapter 1 Introducing Bottom-up Adaptive Macroeconomics; 1.1 At the Roots of the Mainstream Weltanschauung; 1.2 Flawed Microfoundations for Irrelevant Macro?; 1.3 The ABC of Complex Economics; 1.4 The Aim and the Contents of this Book; Chapter 2 The Making of the BAM Model; 2.1 A Theory of the Economic Agent; 2.2 Setting the Stage; 2.3 Rules of Behavior; 2.4 Interaction; 2.5 Simulation and Validation; Chapter 3 The BAM Model at Work; 3.1 BAM at Work; 3.2 The Environment; 3.3 The Sequence of Events

3.4 The Labor Market3.5 The Credit Market; 3.6 The Market for Consumption Goods; 3.7 Bankruptcy, Exit and Entry; 3.8 The "Growth+" Model: R&D and Productivity; 3.9 Simulation Results; 3.9.1 The Baseline Scenario; 3.9.2 Profits, R&D and Productivity; 3.9.3 Measuring the Performance of the BAM Model by Means of DSGE Methodology; 3.9.4 Consumption and Buffer Stock; 3.10 Robustness; 3.10.1 Exploration of the Parameter Space; 3.10.2 Preferential Attachment in Consumption and the Entry Mechanism; Chapter 4 Empirical Validation; 4.1 The Empirics of Falsificationism

4.2 On the Microfoundation of Agent-based Models4.3 Data Description; 4.4 Validation Procedure; 4.5 Firms' Size and Growth; 4.6 Interest Rates; 4.7 The Labour Market; Chapter 5 Conclusions; 5.1 Towards a New Paradigm in Macroeconomics; 5.2 Coordination in Asynchronous Markets; 5.3 Networks; 5.4 Monetary Policy; References; Index

10.1007/978-88-470-1971-3 [DOI]

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