Beyond DSGE Models: Toward an Empirically Based Macroeconomics

By D. Colander, Peter Howitt, Alan Kirman, A. Leijonhufvud, Perry Mehrling. 2008

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NEW DIRECTIONS FOR URBAN ECONOMIC MODELS OF LAND USE CHANGE: INCORPORATING SPATIAL DYNAMICS AND HETEROGENEITY (2010, background): “An emerging view among some economists describes the economy as a dynamic adaptive system (Tesfatsion, 2006; Colander et al., 2008; Anufriev and Branch, 2009), in which interactions among agents, who are likely distinguished by different expectations or other key sources of heterogeneity, are…”
Estimation of ergodic agent-based models by simulated minimum distance (2015, unknown): “5See Colander et al. (2008); Solow (2010); Kirman (2010); Krugman (2011); Stiglitz (2011).”
The scientific foundation of dynamic stochastic general equilibrium (DSGE) models (2010, background): “lyzing short-term and medium-term macroeconomic problems which is about the dynamics of aggregating heterogeneous behavior and beliefs (see Colander et al. 2008 ).”
THE FINANCIAL CRISIS AND THE SYSTEMIC FAILURE OF THE ECONOMICS PROFESSION (2009, unknown): “But dynamicprogramming models as models of the aggregate economy have serious limitations (Colander 2006; Colander et al. 2008).”