{"title":"具有相互作用的简单经济模型","authors":"M. Gusev, Dimitri Kroujiline","doi":"10.2139/ssrn.3552539","DOIUrl":null,"url":null,"abstract":"Macroeconomic models rarely make explicit how agents actually interact. If however interaction is explicitly specified, the link between the micro and macro properties of models becomes much richer, leading in certain cases to the onset of macro-level instability. This working paper incorporates interactions among agents at a micro level into the basic Solow model to study disequilibrium behaviors and economic instability on a macro level. In particular, we investigate two limiting cases. First, we recover the classic case where the economy converges to the balanced growth path and then grows along it. In the second case, where the interactions-fueled demand dynamics become the main force driving the economy, we obtain business cycles as quasiperiodic endogenous fluctuations.<br>","PeriodicalId":11757,"journal":{"name":"ERN: Other Microeconomics: General Equilibrium & Disequilibrium Models of Financial Markets (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2020-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"A Simple Economic Model with Interactions\",\"authors\":\"M. Gusev, Dimitri Kroujiline\",\"doi\":\"10.2139/ssrn.3552539\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Macroeconomic models rarely make explicit how agents actually interact. If however interaction is explicitly specified, the link between the micro and macro properties of models becomes much richer, leading in certain cases to the onset of macro-level instability. This working paper incorporates interactions among agents at a micro level into the basic Solow model to study disequilibrium behaviors and economic instability on a macro level. In particular, we investigate two limiting cases. First, we recover the classic case where the economy converges to the balanced growth path and then grows along it. In the second case, where the interactions-fueled demand dynamics become the main force driving the economy, we obtain business cycles as quasiperiodic endogenous fluctuations.<br>\",\"PeriodicalId\":11757,\"journal\":{\"name\":\"ERN: Other Microeconomics: General Equilibrium & Disequilibrium Models of Financial Markets (Topic)\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-02-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"ERN: Other Microeconomics: General Equilibrium & Disequilibrium Models of Financial Markets (Topic)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3552539\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Other Microeconomics: General Equilibrium & Disequilibrium Models of Financial Markets (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3552539","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Macroeconomic models rarely make explicit how agents actually interact. If however interaction is explicitly specified, the link between the micro and macro properties of models becomes much richer, leading in certain cases to the onset of macro-level instability. This working paper incorporates interactions among agents at a micro level into the basic Solow model to study disequilibrium behaviors and economic instability on a macro level. In particular, we investigate two limiting cases. First, we recover the classic case where the economy converges to the balanced growth path and then grows along it. In the second case, where the interactions-fueled demand dynamics become the main force driving the economy, we obtain business cycles as quasiperiodic endogenous fluctuations.