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Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes (Japan-US Center UFJ Bank Monographs on International Financial Markets) - Softcover
Synopsis
In this book, the authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points.
"synopsis" may belong to another edition of this title.
About the Authors
Masanao Aoki is Professor Emeritus in the Department of Economics at the University of California, Los Angeles.
Hiroshi Yoshikawa is Professor of Economics at the University of Tokyo.
"About this title" may belong to another edition of this title.
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Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes (Japan-US Center UFJ Bank Monographs on International Financial Markets)
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Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes
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Cambridge University Press 2011-11, 2011
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Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes (Japan-US Center UFJ Bank Monographs on International Financial Markets)
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ISBN 10: 1107634202
ISBN 13: 9781107634206
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Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes
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Cambridge University Press, 2011
ISBN 10: 1107634202
ISBN 13: 9781107634206
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Reconstructing Macroeconomics (Paperback)
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Cambridge University Press, Cambridge, 2011
ISBN 10: 1107634202
ISBN 13: 9781107634206
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Paperback. Condition: new. Paperback. In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them. In mainstream macroeconomics sound microfoundations for macroeconomics have meant incorporating sophisticated intertemporal optimization by representative agents into models. Optimal growth theory, once meant to be normative, is now taught as a descriptive theory in mainstream macroeconomic courses. In neoclassical equilibria flexible prices led the economy to the state of full employment and marginal productivities are all equated. Professors Aoki and Yoshikawa contrariwise show that such equilibria are not possible in economies with a large number of agents of heterogeneous types. They employ a set of statistical dynamical tools via continuous-time Markov chains and statistical distributions of fractions of agents by types available in the new literature of combinatorial stochastic processes, to reconstruct macroeconomic models. In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Seller Inventory # 9781107634206
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Reconstructing Macroeconomics
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Condition: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them.Über den Autor. Seller Inventory # 447221583
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Reconstructing Macroeconomics
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Cambridge University Press, 2011
ISBN 10: 1107634202
ISBN 13: 9781107634206
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Condition: New. In this book, the authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points. Series: Japan-US Center UFJ Bank Monographs on International Financial Markets. Num Pages: 354 pages, 11 tables. BIC Classification: KC; KCB. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 19. Weight in Grams: 500. . 2011. Paperback. . . . . Books ship from the US and Ireland. Seller Inventory # V9781107634206
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Reconstructing Macroeconomics : A Perspective from Statistical Physics and Combinatorial Stochastic Processes
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Taschenbuch. Condition: Neu. Druck auf Anfrage Neuware - Printed after ordering - In this book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them. In mainstream macroeconomics sound microfoundations for macroeconomics have meant incorporating sophisticated intertemporal optimization by representative agents into models. Optimal growth theory, once meant to be normative, is now taught as a descriptive theory in mainstream macroeconomic courses. In neoclassical equilibria flexible prices led the economy to the state of full employment and marginal productivities are all equated. Professors Aoki and Yoshikawa contrariwise show that such equilibria are not possible in economies with a large number of agents of heterogeneous types. They employ a set of statistical dynamical tools via continuous-time Markov chains and statistical distributions of fractions of agents by types available in the new literature of combinatorial stochastic processes, to reconstruct macroeconomic models. Seller Inventory # 9781107634206
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Reconstructing Macroeconomics
Published by
Cambridge University Press, 2011
ISBN 10: 1107634202
ISBN 13: 9781107634206
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Seller: Kennys Bookshop and Art Galleries Ltd., Galway, GY, Ireland
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Condition: New. In this book, the authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points. Series: Japan-US Center UFJ Bank Monographs on International Financial Markets. Num Pages: 354 pages, 11 tables. BIC Classification: KC; KCB. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 19. Weight in Grams: 500. . 2011. Paperback. . . . . Seller Inventory # V9781107634206
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