Search Results - subject:"Master Equation"

Mean field social optimization : feedback person-by-person optimality and its dynamic programming equation

Huang, Minyi; Sheu, Shuenn-Jyi; Sun, Li-Hsien - 2024

Persistent link: https://www.econbiz.de/10015079845

A mean field model for the development of renewable capacities

Alasseur, Clémence; Basei, Matteo; Bertucci, Charles; … - In: Mathematics and financial economics 17 (2023) 4, pp. 695-719

Persistent link: https://www.econbiz.de/10014448076

Uncertainty, rationality and complexity in a multi sectoral dynamic model : the dynamic stochastic generalized aggregation approach

Catalano, Michele; Di Guilmi, Corrado - 2016

Persistent link: https://www.econbiz.de/10011757185

The dynamics of leverage in a Minskyan model with heterogeneous firms

Di Guilmi, Corrado; Carvalho, Laura - 2015

Persistent link: https://www.econbiz.de/10011521983

Income inequality and macroeconomic instability: a stock-flow consistent approach with heterogeneous agents

Carvalho, Laura; Guilmi, Corrado Di - Crawford School of Public Policy, Australian National … - 2014

This paper introduces heterogeneous microeconomic behavior into a demand-driven stock-flow consistent model with endogenous credit creation, so as to study the joint dynamics of both the personal and the functional distribution of income, household debt and aggregate demand. The distinctive...

Persistent link: https://www.econbiz.de/10010929381

Income inequality and macroeconomic instability : a stock-flow consistent approach with heterogeneous agents

Carvalho, Laura; Di Guilmi, Corrado - 2014

Persistent link: https://www.econbiz.de/10011341980

Reconstructing Aggregate Dynamics in Heterogeneous Agents Models. A Markovian Approach

Gatti, Domenico Delli; Guilmi, Corrado Di; Gallegati, Mauro - In: Revue de l'OFCE N° 124 (2012) 5, pp. 117-146

The restrictive assumptions imposed by the traditional methods of aggregation prevented so far a sound analysis of complex system of feedback between microeconomic variables and macroeconomic outcomes. This issue seems to be crucial in macroeconomic modelling, in particular for the analysis of...

Persistent link: https://www.econbiz.de/10010852448

What is wrong with heterodox economics? Kalecki’s profit theory as an example

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2011

Kalecki’s profit theory has always been popular among heterodox economist as an alternative approach to solve the paradox of monetary profits. In the present paper his formula ‘The workers spend what they get, the capitalists get what they spend’ is scrutinized for its logical and factual...

Persistent link: https://www.econbiz.de/10009025262

Modeling Maximum Entropy and Mean-Field Interaction in Macroeconomics

Di Guilmi, Corrado; Gallegati, Mauro; Landini, Simone - 2008

master equation's solution techniques (Aoki and Yoshikawa, 2006). …

Persistent link: https://www.econbiz.de/10010298572

Modeling maximum entropy and mean-field interaction in macroeconomics

Di Guilmi, Corrado (contributor); … - 2008

master equation's solution techniques (Aoki and Yoshikawa, 2006). -- Business cycles ; heterogeneity ; financial fragility … master equation and maximum entropy is definitely not new in economics, but it has been basically limited so far to financial … infer the stochastic laws that describes units’ behavior. These laws can be estimated through master equation’s solution …

Persistent link: https://www.econbiz.de/10003782373