Domenico Delli Gatti - Microfoundations for the Vision of Minsky
Автор: New Economic Thinking
Загружено: 2011-06-13
Просмотров: 5452
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Delli Gatti starts where his dissertation advisor, Hyman Minsky, left off. With tools from network theory and agent-based modeling, he simulates the economy as enormous web of credit relations. He says agent-based models can capture a simple idea that traditional macro models could not: when a business fails to pay, its creditors may fail to pay -- that's interaction -- threatening to shake the entire web of credit relations. The microfoundations are a step beyond Minsky, the interaction is a step beyond the representative agent -- this is new economic thinking.
http://ineteconomics.org/video/30-way...
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