Emergent Macroeconomics
An Agent-Based Approach to Business Fluctuations

Authors:DOMENICO DELLI GATTI – Catholic University of Milan, Italy
                EDOARDO GAFFEO – University of Trento, Italy
                MAURO GALLEGATI – Università Politecnica delle Marche, Ancona, Italy
                GIANFRANCO GIULIONI – University “G. D’Annunzio”, Pescara, Italy
                ANTONIO PALESTRINI – University of Teramo, Italy
Series: New Economic Windows
2006, Springer,XII, 131 p. 30 illus.
ISBN: 978-88-470-0724-6

About this book
This book contributes substantively to the current state-of-the-art of macroeconomics by providing a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. Drawing from recent advances in agent-based computational modeling, the authors show how insights from dispersed fields like the microeconomics of capital market imperfections, industrial dynamics and the theory of stochastic processes can be fruitfully combined to improve our understanding of macroeconomic dynamics.

This book should be a valuable resource for all researchers interested in analyzing macroeconomic issues without recurring to a fictitious representative agent.

Content Level:Professional/practitioner
Keywords:agent based computational economics - business cycle - financial fragility - firms' size distribution - power laws