Gatti, Domenico Delli; Gallegati, Mauro; Russo, Alberto - Dipartimento di Economia e Management, Università … - 2004
In this paper we suggest a scaling approach to business cycles. We develop a heterogeneous interacting agents (HIAs) model that replicates well known industrial dynamics stylized facts, as the power law distribution of firms' size and the Laplace distribution of firms' growth rates. In...