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Financial Fragility, Mean-field Interaction and Macroeconomic Dynamics: A Stochastic Model

In: Institutional and Social Dynamics of Growth and Distribution

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  • Corrado Di Guilmi
  • Mauro Gallegati
  • Simone Landini

Abstract

Institutional and Social Dynamics of Growth and Distribution presents a set of original contributions to the much-debated issues of long-run economic growth in relation to institutional and social progress.

Suggested Citation

  • Corrado Di Guilmi & Mauro Gallegati & Simone Landini, 2010. "Financial Fragility, Mean-field Interaction and Macroeconomic Dynamics: A Stochastic Model," Chapters, in: Neri Salvadori (ed.), Institutional and Social Dynamics of Growth and Distribution, chapter 13, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13365_13
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    References listed on IDEAS

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    1. Hinich, Melvin J. & Foster, John & Wild, Phillip, 2006. "Structural change in macroeconomic time series: A complex systems perspective," Journal of Macroeconomics, Elsevier, vol. 28(1), pages 136-150, March.
    2. Forni, Mario & Lippi, Marco, 1997. "Aggregation and the Microfoundations of Dynamic Macroeconomics," OUP Catalogue, Oxford University Press, number 9780198288008.
    3. Bruce C. Greenwald & Joseph E. Stiglitz, 1990. "Macroeconomic Models with Equity and Credit Rationing," NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 15-42, National Bureau of Economic Research, Inc.
    4. Gatti, Domenico Delli & Guilmi, Corrado Di & Gaffeo, Edoardo & Giulioni, Gianfranco & Gallegati, Mauro & Palestrini, Antonio, 2005. "A new approach to business fluctuations: heterogeneous interacting agents, scaling laws and financial fragility," Journal of Economic Behavior & Organization, Elsevier, vol. 56(4), pages 489-512, April.
    5. J. Barkley Rosser Jr. (ed.), 2004. "Complexity in Economics," Books, Edward Elgar Publishing, volume 0, number 2709.
    6. Bruce C. Greenwald & Joseph E. Stiglitz, 1993. "Financial Market Imperfections and Business Cycles," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(1), pages 77-114.
    7. 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.
    8. Robert Axtell & Robert Axelrod & Joshua M. Epstein & Michael D. Cohen, 1995. "Aligning Simulation Models: A Case Study and Results," Working Papers 95-07-065, Santa Fe Institute.
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    1. Di Guilmi, C. & Gallegati, M. & Landini, S. & Stiglitz, J.E., 2020. "An analytical solution for network models with heterogeneous and interacting agents," Journal of Economic Behavior & Organization, Elsevier, vol. 171(C), pages 189-220.

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