seminar: Complex dynamics, heterogeneous interacting agents and empirical evidence

speaker: Mauro Gallegati (Università Politecnica delle Marche)

abstract: Standard macroeconomics, based on a reductionist approach centered on the representative agent, is badly equipped to explain the empirical evidence where heterogeneity and industrial dynamics are the rule. In this paper we show that a simple agent-based model of heterogeneous financially fragile agents is able to replicate a large number of scaling type stylized facts with a remarkable degree of statistical precision.

timetable:
Tue 16 Nov, 10:30 - 11:00, Aula Dini
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