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A Statistical Mechanic View of Macro-dynamics in Economics

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  • Simone Landini
  • Mariacristina Uberti

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  • Simone Landini & Mariacristina Uberti, 2008. "A Statistical Mechanic View of Macro-dynamics in Economics," Computational Economics, Springer;Society for Computational Economics, vol. 32(1), pages 121-146, September.
    • Handle: RePEc:kap:compec:v:32:y:2008:i:1:p:121-146
    DOI: 10.1007/s10614-008-9128-4
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    References listed on IDEAS

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    1. Schmitt-Grohe, Stephanie & Uribe, Martin, 2004. "Solving dynamic general equilibrium models using a second-order approximation to the policy function," Journal of Economic Dynamics and Control, Elsevier, vol. 28(4), pages 755-775, January.
    2. Duncan K. Foley, 1996. "Statistical Equilibrium In A Simple Labor Market," Metroeconomica, Wiley Blackwell, vol. 47(2), pages 125-147, June.
    3. Domenico Delli Gatti & Edoardo Gaffeo & Mauro Gallegati & Gianfranco Giulioni & Alan Kirman & Antonio Palestrini & Alberto Russo, 2006. "Complex Dynamics, Financial Fragility and Stylized Facts," Lecture Notes in Economics and Mathematical Systems, in: M. Beckmann & H. P. Künzi & G. Fandel & W. Trockel & A. Basile & A. Drexl & H. Dawid & K. Inderfurth (ed.), Artificial Economics, pages 127-135, Springer.
    4. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
    5. E. Scalas & U. Garibaldi & S. Donadio, 2007. "Statistical equilibrium in simple exchange games I," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 60(2), pages 271-272, November.
    6. M. Gallegati & A. Palestrini & D. Gatti & E. Scalas, 2006. "Aggregation of Heterogeneous Interacting Agents: The Variant Representative Agent Framework," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 1(1), pages 5-19, May.
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    Citations

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    Cited by:

    1. Simone Landini & Mauro Gallegati, 2014. "Heterogeneity, interaction and emergence: effects of composition," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 4(3/4), pages 339-361.
    2. Chiarella, Carl & Di Guilmi, Corrado, 2011. "The financial instability hypothesis: A stochastic microfoundation framework," Journal of Economic Dynamics and Control, Elsevier, vol. 35(8), pages 1151-1171, August.
    3. Di Guilmi, Corrado & Carvalho, Laura, 2017. "The dynamics of leverage in a demand-driven model with heterogeneous firms," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 70-90.
    4. Hawkins, Raymond J. & Aoki, Masanao & Roy Frieden, B., 2010. "Asymmetric information and macroeconomic dynamics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(17), pages 3565-3571.
    5. Neri Salvadori (ed.), 2010. "Institutional and Social Dynamics of Growth and Distribution," Books, Edward Elgar Publishing, number 13365, March.

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    More about this item

    Keywords

    Heterogeneity; Interaction; Agent-based-models; Statistical mechanics; Master equation; Kramers–Moyal expansion; Fokker–Planck equation; Mean field theory; C02; E20;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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