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UN MODELO INTERDISCIPLINARIO PARA LA MACROECONOMÍA.

Authors :
Haldane, Andrew G.
Turrell, Arthur E.
Source :
Revista de Economía Institucional. ene-jun2019, Vol. 21 Issue 40, p69-110. 42p.
Publication Year :
2019

Abstract

Macroeconomic modelling has been under intense scrutiny since the Great Financial Crisis, when serious shortcomings were exposed in the methodology used to understand the economy as a whole. Criticism has been levelled at the assumptions employed in the dominant models, particularly that economic agents are homogeneous and optimising and that the economy is equilibrating. This paper seeks to explore an interdisciplinary approach to macroeconomic modelling, with techniques drawn from other (natural and social) sciences. Specifically, it discusses agent-based modelling, which is used across a wide range of disciplines, as an example of such a technique. Agent-based models are complementary to existing approaches and are suited to answering macroeconomic questions where complexity, heterogeneity, networks, and heuristics play an important role. [ABSTRACT FROM AUTHOR]

Details

Language :
Spanish
ISSN :
01245996
Volume :
21
Issue :
40
Database :
Academic Search Index
Journal :
Revista de Economía Institucional
Publication Type :
Academic Journal
Accession number :
134369834
Full Text :
https://doi.org/10.18601/01245996.v21n40.03