Agent based-stock flow consistent macroeconomics: Towards a benchmark model

The paper moves from a discussion of the challenges posed by the crisis to standard macroeconomics and the solutions adopted within the DSGE community. Although several recent improvements have enhanced the realism of standard models, we argue that major drawbacks still undermine their reliability....

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Veröffentlicht in:	Journal of economic dynamics & control 2016-08, Vol.69, p.375-408
Hauptverfasser:	Caiani, Alessandro, Godin, Antoine, Caverzasi, Eugenio, Gallegati, Mauro, Kinsella, Stephen, Stiglitz, Joseph E.
Format:	Artikel
Sprache:	eng
Schlagworte:	Agency theory Agent based macroeconomics Bank regulation Business cycles Economic crisis Macroeconomics Monetary theory Stock flow consistent models Validation studies
Online-Zugang:	Volltext
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