Heterogeneous Interacting Agent Models for Understanding Monetary Economies
نویسندگان
چکیده
منابع مشابه
Heterogeneous Interacting Agent Models for Understanding Monetary Economies
The representative agent (RA) approach of the mainstream economics allows a rich analysis of intertemporal maximization; but it rules out the possibility of the analysis of complex interactions. It is the latter that are at the root of this and other crises. We argue that the RA approach is simply not up to the task of enhancing our understanding of modern macroeconomies and that the standard c...
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ژورنال
عنوان ژورنال: Eastern Economic Journal
سال: 2010
ISSN: 0094-5056,1939-4632
DOI: 10.1057/eej.2010.33