عنوان

The Visible Hand :

3642467539

9783642467530

b568380

The Visible Hand :

[Book]

Synergetic Microfoundation of Macroeconomic Dynamics

by Reiner B. Koblo.

Berlin, Heidelberg

Springer Berlin Heidelberg

1991

(viii, 131 pages 40 illustrations)

Lecture notes in economics and mathematical systems, 369.

I. Introduction --; 1. Temporary Equilibrium Theory --; 2. Evolutionary Economics --; 3. Synergetics as a Dynamic Decision Theory --; II. Application of Synergetics in Business Cycle Theory --; 1. Basic Linear Model --; 2. A Synergetic Model of Demand for Investment --; 3. Producers' Decision on the Output Level --; 4. Consumers' Decision --; III. Empirical Evidence --; 1. Goals and Methods --; 2. Empirical Test of the Model with Macrodata --; 3. Empirical Test of the Model with Microdata --; 4. Remarks --; IV. Conclusion --; References --; Index of Figures and Tables.

With the help of the method of synergetics this study shows a consistent formal derivation of the dynamics of a macroeconomic system as the effect ofthe decision behavior of the microeconomic agents. A special issue is the economic interpretation of the synergetic modelling of the microlevel and its relation to other economic research on microfoundations of the macroeconomics, i. e. the New Classical and the New Keynesian approach. The transformation of a well-known macroeconomicbusiness cycle model into a micro-based synergetic model gives an illustrative example how the method can be applied to economic problems. It can be shown that the transformed model generates new interesting features like inherent and assymetric cycles, a high stability to exogenous shocks and even a so called "deterministic chaos". Beside these new featuresthe main structure of the basic model in terms of the causality of the relevant parameters remains unchanged. Thus, the investigation gives the researcher an example of a method that makes it possible to "test" the macroeconomic effects of different behavior assumptions of the economic agents on the macrolevel in a dynamic context. The work ends with an attempt of an interpretation of macroeconomic data of the FRG in the last thirty years in the way that it is traced back to changes in the behavior of the economic agents.

Economics.

Regional economics.

by Reiner B. Koblo.

Reiner B Koblo

[Book]

Y