Agent-Based Wicksell–Keynes Model

Ichiro Takahashi
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Ichiro Takahashi: Chuo University

Chapter Chapter 2 in An Artificial Wicksell—Keynes Macroeconomy, 2021, pp 21-34 from Springer

Abstract: Abstract To explore the stability question, we need a simple well-grounded general disequilibrium model that captures macro-essential characteristics of the behaviors of agents. This chapter develops a prototype model that incorporates Wicksellian and Keynesian features—“Agent-Based Wicksell–Keynes Model” (hereafter, AWK stands for either Agent-Based Wicksell–Keynes or Artificial Wicksell–Keynes by using the abuse of notation). We start by emphasizing three basic properties that the model must fulfill in Sect. 2.1, then we go on to elaborate the essential elements of AWK model in Sect. 2.2. Section 2.3 provides an overview of the model and outlines the sequence of events.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-6839-5_2

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DOI: 10.1007/978-981-16-6839-5_2

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