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" Rethinking macroeconomics with endogenous market structure / "
Marco Mazzoli, Matteo Morini, Pietro Terna.
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BL
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839590
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| Main Entry
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Mazzoli, Marco
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| Title & Author
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Rethinking macroeconomics with endogenous market structure /\ Marco Mazzoli, Matteo Morini, Pietro Terna.
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| Edition Statement
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First.
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| Publication Statement
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Cambridge, United Kingdom ;New York, NY :: Cambridge University Press,, 2019.
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, ©2019
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1 online resource
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| ISBN
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1108595693
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: 1108697011
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: 9781108595698
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: 9781108697019
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1108482600
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9781108482608
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| Bibliographies/Indexes
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Includes bibliographical references and indexes.
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| Contents
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Cover -- Half-title page -- Title page -- Copyright page -- Contents -- List of Illustrations -- List of Tables -- Notes on Contributors -- Introduction -- Part One Theory -- 1 Industrial Structure and the Macroeconomy: A Few Premises for a Macromodel -- 1.1 Introduction -- 1.2 Why a New Theoretical Approach -- 1.2.1 Microfoundation -- 1.2.2 Market Structure -- 1.2.3 Expectations and Implications for the Simulations -- 2 Industrial Structure and the Macroeconomy: The Macroeconomic Model and Its Algebraic Framework -- 2.1 Introduction -- 2.2 The Algebraic Derivation of the Aggregate Demand
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2.3 The Firms -- 2.4 The Incentive Compatible Wage, the Probability of Entry and Exit and the Employment Level -- 2.5 A Digression on the Link Between the Labor Market Equilibrium, the Firm's Output and the Entry Decision -- 2.6 Interpreting the Nature of the Equilibrium in the Oligopolistic Market -- 2.7 A Few Equations Summarizing the Model for the Agent-Based Simulations -- 2.8 Concluding Remarks -- 2.9 Technical Specifications -- Entry and Output Determination: The Existence of a Cournot-Nash Equilibrium -- Part Two Model
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3 A Computable Market Model: The Structure of the Agent-Based Simulation -- 3.1 A Scheme to Start -- 3.1.1 SLAPP -- Swarm-Like Agent Protocol in Python -- 3.1.2 The Structure of the Simulation Model -- 3.1.3 What Is a Cycle and What Are Sub-Steps? -- 3.1.4 Item 1: Reset Action -- 3.2 Item 2: makeProductionPlan or adaptProductionPlan -- 3.2.1 makeProductionPlan -- 3.2.2 adaptProductionPlan -- 3.3 Item 3: hireFireWithProduction -- 3.4 Item 4: produce -- 3.4.1 Item 4, Continuation: workTroubles -- 3.5 Item 5: planConsumptionInValue -- 3.6 Item 6: setInitialPricesHM -- 3.7 Item 7: actOnMarketPlace
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3.8 Item 8: setMarketPrice -- 3.9 Item 9: evaluateProfit -- 3.10 Item 10: nextSellPriceJumpFHM and nextSellPricesQHM -- 3.10.1 Item 10-full: nextSellPriceJumpFHM -- 3.10.2 Item 10-quasi: nextSellPricesQHM -- 3.11 Item 11: toEntrepreneur and toWorker -- 3.11.1 Item 11: toEntrepreneur -- 3.11.2 Item 11: toWorker -- 3.12 Item 12: On wages: fullEmploymentEffect and incumbentAction -- 3.12.1 Item 12: fullEmploymentEffectOnWages -- 3.12.2 Item 12: incumbentActionOnWages -- 4 The Results of the Simulation Agent-Based Model, in SMAC and ASHAM Modes
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4.1 Initial Results, Cases 0a (g in Figure 4.17) and 0b (h in Figure 4.17) -- 4.2 Synopsis of SMAC Experiments, from Atomistic to Oligopolistic Markets -- 4.2.1 Case 1 (a in Figure 4.17): 100 Entrepreneurs and 100,000 Workers -- 4.2.2 Case 2 (b in Figure 4.17): 1,000 Entrepreneurs and 100,000 Workers -- 4.2.3 Case 3 (c in Figure 4.17): 10 Entrepreneurs and 100,000 Workers -- 4.2.4 Case 4 (d in Figure 4.17): 20 Entrepreneurs and 100,000 workers -- 4.2.5 Case 5 (e in Figure 4.17): 50 Entrepreneurs and 100,000 Workers -- 4.2.6 Case 6 (f in Figure 4.17): 50 entrepreneurs and 10,000 workers
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| Abstract
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"The last decade has seen a lively debate in macroeconomics, with an increasing criticism on the model that seemed to be dominant in literature since the end of the 1990's, the Dynamic Stochastic General Equilibrium (DSGE, hereafter) and, consequently, the birth of some new theoretical approaches and methodologies"--
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| Subject
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Equilibrium (Economics)
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Macroeconomics-- Mathematical models.
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Equilibrium (Economics)
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Macroeconomics-- Mathematical models.
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| Dewey Classification
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339.01/51922
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| LC Classification
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HB172.5.M3649 2019
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| Added Entry
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Morini, Matteo
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Terna, Pietro
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