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Agent-based Macroeconomics

The Schumpeter Meeting Keynes Models

Giovanni Dosi, Andrea Roventini

Cambridge University Press
Publication date : 2025-04-30

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This Element is about agent-based macroeconomics in general, and in particular about a family of evolutionary, agent-based models (ABMs), which are called 'Schumpeter meeting Keynes' (or K+S). The K+S models knit together 'Schumpeterian' endogenous processes of innovation with 'Keynesian' mechanisms of demand generation. As with all well-constructed ABMs, the K+S models are populated by a multiplicity of agents which interact on the grounds of quite simple, empirically based, behavioural rules, whose collective outcomes are 'emergent properties' which cannot be imputed to the intention of any single agent. After the K+S model is empirically validated, the impacts of different combinations of innovation, industrial, fiscal, and monetary policies for different labour-market regimes and inequality scenarios are assessed. The Element offers a new perspective on macroeconomics considering the economy as a complex evolving system.

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About the book

Author

Giovanni Dosi , Andrea Roventini

Imprint

Cambridge University Press

Collection

n.c

Publication date

2025-04-30

Pages

n.c

Print ISBN

9781009598743

Language

English

Ebook informations

EAN PDF

9781009414197

Price

£17.93

Copy count 0

Print count 0

File size 3512 Ko

Informations accessibility

EAN EPUB

9781009414180

Price

£17.93

Copy count 0

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File size 5325 Ko

Informations accessibility

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About author(s)

Giovanni Dosi

Andrea Roventini

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