Masanao Aoki is Professor Emeritus in the Department of Economics at the University of California, Los Angeles.
Inhaltsangabe
Preface 1 Masanao Aoki Preface 2 Hiroshi Yoshikawa 1. Introduction - a new approach to macroeconomics 2. The methods - jump Markov processes and random partitions 3. Equilibrium as distribution - the role of demand in macroeconomics 4. Uncertainty trap - policy ineffectiveness and long stagnation of the macroeconomy 5. Slow dynamics of the macro system - no mystery of inflexible prices 6. Business cycles - an endogenous stochastic approach 7. Labor market dynamics - a new look at natural unemployment and Okun's law 8. Demand saturation - creation and economic growth 9. The types of investors and volatility in financial markets - analyzing clusters of heterogeneous agents 10. Stock prices and the real macroeconomy - power-law versus exponential distributions.
Preface 1 Masanao Aoki Preface 2 Hiroshi Yoshikawa 1. Introduction - a new approach to macroeconomics 2. The methods - jump Markov processes and random partitions 3. Equilibrium as distribution - the role of demand in macroeconomics 4. Uncertainty trap - policy ineffectiveness and long stagnation of the macroeconomy 5. Slow dynamics of the macro system - no mystery of inflexible prices 6. Business cycles - an endogenous stochastic approach 7. Labor market dynamics - a new look at natural unemployment and Okun's law 8. Demand saturation - creation and economic growth 9. The types of investors and volatility in financial markets - analyzing clusters of heterogeneous agents 10. Stock prices and the real macroeconomy - power-law versus exponential distributions.
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