An Artificial WicksellKeynes Macroeconomy: Integrating Business Cycle and Cumula

Description: An Artificial WicksellKeynes Macroeconomy by Ichiro Takahashi Estimated delivery 3-12 business days Format Hardcover Condition Brand New Description While a production sector is represented by a single firm in a conventional model, this model has introduced a large number of heterogeneous firms that confront diverse constraints both at the firm and aggregate levels. This could result in an increased aggregate demand and benefit other firms with further employment. Publisher Description This book presents an agent-based macroeconomic model developed on the Keynesian principle of effective demand and the Wicksellian theory of cumulative process. The main purpose of the book is to demystify inherent forces that revive an economy from a long-run downturn. The model has three types of bounded-rational agents: firm, household, and bank. To highlight the autonomous revival mechanisms, the model is assumed to be completely closed and free from any external influences such as changes in management of aggregate demand or supply/demand shocks. The key finding of the book is that diversity of firms is a crucial element in reviving investment activities. While a production sector is represented by a single firm in a conventional model, this model has introduced a large number of heterogeneous firms that confront diverse constraints both at the firm and aggregate levels. The behaviours of these firms may vary despite being exposed to the same aggregate environment. For example, economic downturns usually precipitate a fall in real wages as a response to decreased aggregate demand. Most firms reduce their employment focusing on the reduction in aggregate demand. However, some firms identify a reduction in real wage as a sign of improving profitability hence they may expand employment. This could result in an increased aggregate demand and benefit other firms with further employment. It could even reverse the trend to an upslope, thereby ultimately achieving full of near full employment. This book details further on: (1) the rigidity of prices and wages in a stable economy (2) the fundamental factors to establish a robust and high-performing economy, with the focus on the importance of a stable and equitable macroeconomic environment. Author Biography Dr. Ichiro Takahashi, Ph.D., is a Japanese economist, who studied microfoundations of Keynesian economics, under late Prof. Walter P. Heller. He taught economics across the U.S. and Japan at Carnegie Mellon University, Soka University and Chuo University. Previous Dean of the Faculty of International Liberal Arts at Soka University, current Professor in Economics at Chuo University. Details ISBN 9811668388 ISBN-13 9789811668388 Title An Artificial WicksellKeynes Macroeconomy Author Ichiro Takahashi Format Hardcover Year 2022 Pages 164 Edition 1st Publisher Springer Verlag, Singapore GE_Item_ID:160018368; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. Returns If you wish to return an item, please consult our Returns Policy as below: Please contact Customer Services and request "Return Authorisation" before you send your item back to us. Unauthorised returns will not be accepted. Returns must be postmarked within 4 business days of authorisation and must be in resellable condition. Returns are shipped at the customer's risk. We cannot take responsibility for items which are lost or damaged in transit. For purchases where a shipping charge was paid, there will be no refund of the original shipping charge. Additional Questions If you have any questions please feel free to Contact Us. Categories Baby Books Electronics Fashion Games Health & Beauty Home, Garden & Pets Movies Music Sports & Outdoors Toys

Price: 130.34 USD

Location: Fairfield, Ohio

End Time: 2025-01-07T06:12:26.000Z

Shipping Cost: 0 USD