Autonomous demand, multiple equilibria and unemployment dynamics.

IF 0.8 4区 经济学 Q3 ECONOMICS
Piero Ferri, Fabio Tramontana
{"title":"Autonomous demand, multiple equilibria and unemployment dynamics.","authors":"Piero Ferri,&nbsp;Fabio Tramontana","doi":"10.1007/s11403-020-00306-1","DOIUrl":null,"url":null,"abstract":"<p><p>The paper presents a medium-run growth model driven by autonomous demand, where aggregate demand and supply interact and unemployment is present and plays different roles. In particular, it generates a feedback from supply to aggregate demand rooted in the presence of heterogeneous consumers and an uncertain environment. Two are the main consequences of this approach. The first is that multiple equilibria can be generated. The second is that equilibria may have different stability properties. In this perspective, growth becomes a dynamic process where initial conditions matter and history plays an important role.</p>","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":null,"pages":null},"PeriodicalIF":0.8000,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11403-020-00306-1","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Interaction and Coordination","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1007/s11403-020-00306-1","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2020/10/31 0:00:00","PubModel":"Epub","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0

Abstract

The paper presents a medium-run growth model driven by autonomous demand, where aggregate demand and supply interact and unemployment is present and plays different roles. In particular, it generates a feedback from supply to aggregate demand rooted in the presence of heterogeneous consumers and an uncertain environment. Two are the main consequences of this approach. The first is that multiple equilibria can be generated. The second is that equilibria may have different stability properties. In this perspective, growth becomes a dynamic process where initial conditions matter and history plays an important role.

Abstract Image

Abstract Image

Abstract Image

自主需求、多重均衡与失业动态。
本文提出了一个自主需求驱动的中期增长模型,其中总需求和总供给相互作用,失业存在并发挥着不同的作用。特别是,它产生了一种从供给到总需求的反馈,这种反馈根植于异质性消费者和不确定环境的存在。这种方法的主要后果有两个。首先,多重均衡可以产生。第二,平衡可能有不同的稳定性。从这个角度来看,增长成为一个动态过程,其中初始条件很重要,历史起着重要作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
CiteScore
2.20
自引率
18.20%
发文量
33
期刊介绍: Journal of Economic Interaction and Coordination addresses the vibrant and interdisciplinary field of agent-based approaches to economics and social sciences. It focuses on simulating and synthesizing emergent phenomena and collective behavior in order to understand economic and social systems. Relevant topics include, but are not limited to, the following: markets as complex adaptive systems, multi-agents in economics, artificial markets with heterogeneous agents, financial markets with heterogeneous agents, theory and simulation of agent-based models, adaptive agents with artificial intelligence, interacting particle systems in economics, social and complex networks, econophysics, non-linear economic dynamics, evolutionary games, market mechanisms in distributed computing systems, experimental economics, collective decisions. Contributions are mostly from economics, physics, computer science and related fields and are typically based on sound theoretical models and supported by experimental validation. Survey papers are also welcome. Journal of Economic Interaction and Coordination is the official journal of the Association of Economic Science with Heterogeneous Interacting Agents. Officially cited as: J Econ Interact Coord
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信