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Agent-Based Wicksell–Keynes Model

In: An Artificial Wicksell—Keynes Macroeconomy

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  • Ichiro Takahashi

    (Chuo University)

Abstract

To explore the stability question, we need a simple well-grounded general disequilibrium model that captures macro-essential characteristics of the behaviors of agents. This chapter develops a prototype model that incorporates Wicksellian and Keynesian features—“Agent-Based Wicksell–Keynes Model” (hereafter, AWK stands for either Agent-Based Wicksell–Keynes or Artificial Wicksell–Keynes by using the abuse of notation). We start by emphasizing three basic properties that the model must fulfill in Sect. 2.1, then we go on to elaborate the essential elements of AWK model in Sect. 2.2. Section 2.3 provides an overview of the model and outlines the sequence of events.

Suggested Citation

  • Ichiro Takahashi, 2021. "Agent-Based Wicksell–Keynes Model," Springer Books, in: An Artificial Wicksell—Keynes Macroeconomy, chapter 0, pages 21-34, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-6839-5_2
    DOI: 10.1007/978-981-16-6839-5_2
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