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Social networks and macroeconomic stability
Chen, Shu-Heng; Chang, Chia-ling; Wen, Ming-chang - 2014
In this paper, the effect of the social network on macroeconomic stability is examined using an agent-based, network-based DSGE (dynamic stochastic general equilibrium) model. While the authors' primitive (first-stage) examination has the network generation mechanism as its main focus, their...
Persistent link: https://www.econbiz.de/10010259974
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Social networks and macroeconomic stability
Chen, Shu-Heng; Chang, Chia-Ling; Wen, Ming-Chang - In: Economics: The Open-Access, Open-Assessment E-Journal 8 (2014) 2014-16, pp. 1-40
In this paper, the effect of the social network on macroeconomic stability is examined using an agent-based, network-based DSGE (dynamic stochastic general equilibrium) model. While the authors' primitive (first-stage) examination has the network generation mechanism as its main focus, their...
Persistent link: https://www.econbiz.de/10010335665
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Interactions in the New Keynesian DSGE models: The Boltzmann-Gibbs machine and social networks approach
Chen, Shu-heng; Chang, Chia-ling - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-26, pp. 1-32
The BoltzmannGibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the BoltzmannGibbs distribution can be directly applied, without...
Persistent link: https://www.econbiz.de/10010309601
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Social networks and macroeconomic stability
Chen, Shu-Heng; Chang, Chia-Ling; Wen, Ming-Chang - 2013
We construct an agent-based New Keynesian DSGE model with different social network structures to investigate the significance of network topologies to macroeconomic stability. According to our simulation results, we find that the more liquid the information flow, the higher the stability of the...
Persistent link: https://www.econbiz.de/10010311025
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Interactions in the New Keynesian DSGE models: The Boltzmann-Gibbs machine and social networks approach
Chen, Shu-heng; Chang, Chia-ling - In: Economics - The Open-Access, Open-Assessment E-Journal 6 (2012), pp. 1-32
The BoltzmannGibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the BoltzmannGibbs distribution can be directly applied, without...
Persistent link: https://www.econbiz.de/10010954720
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Social networks and macroeconomic stability
Chen, Shu-Heng; Chang, Chia-Ling; Wen, Ming-Chang - In: Economics - The Open-Access, Open-Assessment E-Journal 8 (2014), pp. 1-40
In this paper, the effect of the social network on macroeconomic stability is examined using an agent-based, network-based DSGE (dynamic stochastic general equilibrium) model. While the authors' primitive (first-stage) examination has the network generation mechanism as its main focus, their...
Persistent link: https://www.econbiz.de/10010954744
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Social networks and macroeconomic stability
Chen, Shu-Heng; Chang, Chia-Ling; Wen, Ming-Chang - Institut für Weltwirtschaft (IfW) - 2013
We construct an agent-based New Keynesian DSGE model with different social network structures to investigate the significance of network topologies to macroeconomic stability. According to our simulation results, we find that the more liquid the information flow, the higher the stability of the...
Persistent link: https://www.econbiz.de/10010956024