Macroeconomics from the Bottom-up
- 136pagine
- 5 ore di lettura
This book critiques the NNS-DSGE approach to macroeconomic analysis, arguing it fails to explain real-world phenomena like financial crises and market behavior. It proposes Bottom-up Adaptive Macroeconomics (BAM), focusing on heterogeneous individuals interacting in a complex system and emphasizing the importance of intermarket relationships, aggregate prices, and the emergence of macro behavior from individual actions.
