THE AGENTâ€ BASED APPROACH TO POST KEYNESIAN MACROâ€ MODELING
Corrado Di Guilmi ()
Journal of Economic Surveys, 2017, vol. 31, issue 5, 1183-1203
The paper presents a survey of Post Keynesian (PK) agentâ€ based (AB) models and AB models with PK features. It is argued that AB modeling is fully consistent with the PK approach and that the crossâ€ fertilization can benefit both areas of research. The survey focuses on how the various models have faced the issues implied by adopting a bottomâ€“up approach in a traditionally aggregative structure and highlights the additional insights coming from this modeling strategy. Particular attention is devoted to stockâ€ flow consistent AB models for theivvr potential in defining a new benchmark for this type of research.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jecsur:v:31:y:2017:i:5:p:1183-1203
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