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Markov Dynamics 1 financial fragility 1 heterogeneity 1 master equation 1 mean-field interaction 1
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Gallegati, Mauro 1 Gatti, Domenico Delli 1 Guilmi, Corrado Di 1 Landini, Simone 1
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Revue de l'OFCE 1
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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...
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