Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes

By M. Aoki, H. Yoshikawa. 2006

169 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Beyond DSGE Models: Toward an Empirically Based Macroeconomics (2008, background): “(Aoki and Yoshikawa, 2006) It even offers the possibility of jettisoning all micro foundations, and, using dimensional analysis, analyzing the aggregate economy with zero-rationality agents, as the econophysics literature is doing.”
The Financial Crisis and the Systemic Failure of Academic Economics (2009, background): “If one accepts that the dispersed economic activity of many economic agents could be described by statistical laws, one might even take stock of methods from statistical physics to model dynamic economic systems (cf. Aoki and Yoshikawa, 2007; Lux, 2009, for examples).”
THE FINANCIAL CRISIS AND THE SYSTEMIC FAILURE OF THE ECONOMICS PROFESSION (2009, unknown): “If one accepts that the dispersed economic activity of many economic agents could be described by statistical laws, one might even take stock of methods from statistical physics to model dynamic economic systems (e.g., Aoki and Yoshikawa 2007; Lux 2009).”
Tipping Points in Macroeconomic Agent-Based Models (2013, background): “Building upon this last remark, a very important question, it seems to us, is how much can be understood of the phenomenology of ABMs using “mean-field” approaches [58, 59], i.”