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Your search keyword '"Gouri Suresh, Shyam"' showing total 17 results
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17 results on '"Gouri Suresh, Shyam"'

8. The network origins of aggregate fluctuations: A demand-side approach

Author

Citera, Emanuele, Gouri Suresh, Shyam, and Setterfield, Mark

Subjects
animal spirits, preferential attachment, E37, O41, Aggregate fluctuations, state of long run expectations, agent-based model, small world, random network, C63, ddc:330, cyclical growth, E12, E32
Abstract

We construct a model of cyclical growth with agent-based features designed to study the network origins of aggregate fluctuations from a demand-side perspective. In our model, aggregate fluctuations result from variations in investment behavior at firm level motivated by endogenously-generated changes in "animal spirits" or the state of long run expectations(SOLE). In addition to being influenced by their own economic conditions, firms pay attention to the performance of first-degree network neighbours, weighted (to differing degrees) by the centrality of these neighbours in the network, when revising their SOLE. This allows us to analyze the effects of the centrality of linked network neighbours on the amplitude of aggregate fluctuations. We show that the amplitude of fluctuations is significantly affected by the eigenvector centrality, and the weight attached to the eigenvector centrality, of linked network neighbours. The dispersion of this effect about its mean is shown to be similarly important, resulting in the possibility that network properties can result in `great moderations' giving way to sudden increases in the volatility of aggregate economic performance.

Published
2021

12. Universalizing and the we: endogenous game theoretic deontology.

Author

Studtmann, Paul and Gouri Suresh, Shyam

Abstract

The Nash counterfactual considers the question: what would happen were I to change my behaviour assuming no one else does. By contrast, the Kantian counterfactual considers the question: what would happen were everyone to deviate from some behaviour. We present a model that endogenizes the decision to engage in this type of Kantian reasoning. Autonomous agents using this moral framework receive psychic payoffs equivalent to the cooperate-cooperate payoff in Prisoner's Dilemma regardless of the other player's action. Moreover, if both interacting agents play Prisoner's Dilemma using this moral framework, their material outcomes are a Pareto improvement over the Nash equilibrium. [ABSTRACT FROM AUTHOR]

Published
2021
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16. Aggregate structural macroeconomic analysis: a reconsideration and defence.

Author

Setterfield, Mark and Gouri Suresh, Shyam

Subjects
MACROECONOMICS, SOCIAL theory, ECONOMIC equilibrium, DECISION making, NEOCLASSICAL school of economics
Abstract

Aggregate structural macroeconomic analysis (ASMA) is frequently criticised for being ad hoc and justified (if at all) only as a pragmatic expedient. This paper argues instead that ASMA is consistent with the principles of well-established bodies of social theory. Appeal to these principles reveals that ASMA is adequate and likely even necessary for the successful prosecution of macroeconomic inquiry. [ABSTRACT FROM PUBLISHER]

Published
2014
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17. Three essays on cross-border movements

Author

Gouri Suresh, Shyam Sunder

Abstract

This dissertation studies migration and remittances through a macroeconomic framework. In the first chapter, I compare the impact of national and regional borders on the migration decisions of agents. Migration between regions within a country is observed to be higher than migration between countries; moreover, both types of migration respond similarly to differences in economic opportunities. These observations are analyzed with the aid of a symmetric two-country dynamic general equilibrium model with labor mobility. The model is solved using dynamic programming and estimates of the latent cost of crossing borders are obtained through the method of simulated moments. The results show that the mean moving cost associated with crossing an international border is more than twice that of crossing a regional border. One important consequence of this high cost is that the mere presence of a national border decreases aggregate welfare by about 0.15% in terms of annual consumption for countries such as Sweden and Denmark. In the second and third chapters, I analyze how remittances by emigrants to their home countries affect welfare, consumption, savings, investment and the structure of production between traded and non-traded sectors in developing economies. For both these chapters, I solve a macroeconomic model with an endogenous remittance decision. However, while the second chapter considers remittances driven by investment or savings motives, the third chapter considers altruistic remittances.

Published
2008

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