How Long to Read Macroeconomics from the Bottom-up

How Long Does it Take to Read Macroeconomics from the Bottom-up?

It takes the average reader 2 hours and 5 minutes to read Macroeconomics from the Bottom-up by Domenico Delli Gatti

Assuming a reading speed of 250 words per minute. Learn more

Description

This book arose from our conviction that the NNS-DSGE approach to the analysis of aggregate market outcomes is fundamentally flawed. The practice of overcoming the SMD result by recurring to a fictitious RA leads to insurmountable methodological problems and lies at the root of DSGE models’ failure to satisfactorily explain real world features, like exchange rate and banking crises, bubbles and herding in financial markets, swings in the sentiment of consumers and entrepreneurs, asymmetries and persistence in aggregate variables, and so on. At odds with this view, our critique rests on the premise that any modern macroeconomy should be modeled instead as a complex system of heterogeneous interacting individuals, acting adaptively and autonomously according to simple and empirically validated rules of thumb. We call our proposed approach Bottom-up Adaptive Macroeconomics (BAM). The reason why we claim that the contents of this book can be inscribed in the realm of macroeconomics is threefold: i) We are looking for a framework that helps us to think coherently about the interrelationships among two or more markets. In what follows, in particular, three markets will be considered: the markets for goods, labor and loanable funds. In this respect, real time matters: what happens in one market depends on what has happened, on what is happening, or on what will happen in other markets. This implies that intertemporal coordination issues cannot be ignored. ii) Eventually, it’s all about prices and quantities. However, we are mostly interested in aggregate prices and quantities, that is indexes built from the dispersed outcomes of the decentralized transactions of a large population of heterogeneous individuals. Each individual acts purposefully, but she knows anything about the levels of prices and quantities which clear markets in the aggregate. iii) In the hope of being allowed to purport scientific claims, BAM relies on the assumption that individual purposeful behaviours aggregates into regularities. Macro behaviour, however, can depart radically from what the individual units are trying to accomplish. It is in this sense that aggregate outcomes emerge from individual actions and interactions.

How long is Macroeconomics from the Bottom-up?

Macroeconomics from the Bottom-up by Domenico Delli Gatti is 124 pages long, and a total of 31,496 words.

This makes it 42% the length of the average book. It also has 38% more words than the average book.

How Long Does it Take to Read Macroeconomics from the Bottom-up Aloud?

The average oral reading speed is 183 words per minute. This means it takes 2 hours and 52 minutes to read Macroeconomics from the Bottom-up aloud.

What Reading Level is Macroeconomics from the Bottom-up?

Macroeconomics from the Bottom-up is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Macroeconomics from the Bottom-up?

Macroeconomics from the Bottom-up by Domenico Delli Gatti is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

To buy Macroeconomics from the Bottom-up by Domenico Delli Gatti on Amazon click the button below.