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Macroeconomic relaxation : adjustment processes of hierarchical economic structures
Hawkins, Raymond J. (contributor); Aoki, Masanao (contributor) - 2008
We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and … a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model …
Persistent link: https://www.econbiz.de/10003782359
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Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures
Hawkins, Raymond; Aoki, Masanao - 2008
We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and … a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model …
Persistent link: https://www.econbiz.de/10010298571
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Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures
Aoki, Masanao; Hawkins, Raymond - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-17, pp. 1-21
We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and … a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model …
Persistent link: https://www.econbiz.de/10010298636
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Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures
Aoki, Masanao; Hawkins, Raymond - In: Economics - The Open-Access, Open-Assessment E-Journal 3 (2009), pp. 1-21
We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and … a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model …
Persistent link: https://www.econbiz.de/10005082947
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Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures
Hawkins, Raymond; Aoki, Masanao - Institut für Weltwirtschaft (IfW) - 2008
We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and … a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model …
Persistent link: https://www.econbiz.de/10005097460
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A dynamic probabilistic version of the Aoki-Yoshikawa sectoral productivity model
Scalas, Enrico; Garibaldi, Ubaldo - 2009
In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition...
Persistent link: https://www.econbiz.de/10003830239
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A Dynamic Probabilistic Version of the Aoki-Yoshikawa Sectoral Productivity Model
Scalas, Enrico - 2011
In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition...
Persistent link: https://www.econbiz.de/10013132108
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A Note on Aoki-Yoshikawa Model
Scalas, Enrico - 2011
In this paper, we explore a dynamical version of by Aoki and Yoshikawa model (AYM) for an economy driven by demand. We show that when an appropriate Markovian dynamics is taken into account, AYM has di¤erent equilibrium distributions depending on the form of transition probabilities. In the...
Persistent link: https://www.econbiz.de/10013132204
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Implicit microfoundations for macroeconomics
Wright, Ian - 2009
microfoundations" approach considers this property of micro-level interactions to more strongly determine macro-level outcomes compared … "mechanical" nature. So rather than taking an "explicit microfoundations" approach, in which individuals are represented as "white … examine a parsimonious, agent-based macroeconomic model with implicit microfoundations. It generates many of the reported …
Persistent link: https://www.econbiz.de/10003833662
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Implicit Microfoundations for Macroeconomics
Wright, Ian P. - 2011
microfoundations' approach considers this property of micro-level interactions to more strongly determine macro-level outcomes compared … 'mechanical' nature. So rather than taking an 'explicit microfoundations' approach, in which individuals are represented as 'white … examine a parsimonious, agent-based macroeconomic model with implicit microfoundations. It generates many of the reported …
Persistent link: https://www.econbiz.de/10013132114