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Towards a disequilibrated macroeconomics.
- Source :
-
European Journal of the History of Economic Thought . Apr2024, p1-11. 11p. 1 Illustration. - Publication Year :
- 2024
-
Abstract
- AbstractThis paper elaborates on four different reasons why the assumption of continual dynamic stochastic general equilibrium, which is now standard in mainstream macroeconomics but is not used in agent based macro, makes a macro model less useful: (1) it assumes away most coordination problems, (2) it hides possible instabilities, (3) it makes money look unimportant, and (4) it makes inflation look trivial. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 09672567
- Database :
- Academic Search Index
- Journal :
- European Journal of the History of Economic Thought
- Publication Type :
- Academic Journal
- Accession number :
- 176485312
- Full Text :
- https://doi.org/10.1080/09672567.2024.2329054