Reconstructing macroeconomics
Masanao Aoki
Reading Time
at 250 WPM5h 52m
The average reader, reading at a speed of 250 WPM, would take 5h 52m to read Reconstructing macroeconomics.
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12
days at 30 min/day
352
total minutes
Reconstructing macroeconomics
by Masanao Aoki, Hiroshi Yoshikawa
Published
November 6, 2006
Publisher
Cambridge University Press
Pages
352
ISBN-13
9780521831062
ISBN-10
0521831067
Description
The authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types, and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them. In mainstream macroeconomics sound microfoundations for macroeconomics has meant incorporating sophisticated intertemporal optimization by representative agents into models. Optimal growth theory, once meant to be normative, is now taught as a descriptive theory in mainstream macroeconomic courses. In neoclassical equilibria flexible prices led the economy to the state of full employment and marginal productivities are all equated. Professors Aoki and Yoshikawa contrariwise show that such equilibria are not possible in economies with a large number of agents of heterogeneous types. The authors treat equilibria as statistical distributions and not as fixed points. They employ a set of statistical dynamical tools via continuous-time Markov chains, and statistical distributions of fractions of agents by types available in the new literature of combinatorial stochastic processes, to reconstruct macroeconomic models.
Subjects
Economics, an introductory analysis
Économie internationale
Principles of Macroeconomics
Reconfigurable Processor Array A Bit Sliced Parallel Computer (USA)
Principles of Microeconomics (with Xtra!)
Economics
Frequently Asked Questions
How many pages are in Reconstructing macroeconomics?
This edition of Reconstructing macroeconomics has approximately 352 pages. Please note, this is an estimate and the exact page count can vary between hardcover, paperback, and e-book versions.
How long does it take to read Reconstructing macroeconomics?
For most readers, Reconstructing macroeconomics typically takes between 7h 20m and 4h 53m to complete. This is based on the book's length of approximately 88,000 words and common reading speeds.
Here's a detailed breakdown: • Continuous reading at 250 WPM: approximately 5h 52m of focused reading • Casual reading (30 minutes/day): you could finish in roughly 12 days • Estimated word count: 88,000 words
Your individual reading time will vary based on your personal reading pace, the amount of daily reading time, and your familiarity with the subject matter.
What is the word count of Reconstructing macroeconomics?
The estimated word count for Reconstructing macroeconomics is approximately 88,000 words. This figure is calculated using industry-standard methods that consider genre-specific word density patterns, typical formatting and layout characteristics, and standard words-per-page ratios for published books.
This is an approximation — actual word count may vary based on font size, formatting, edition, and the presence of illustrations or charts.
Who is the author of Reconstructing macroeconomics?
Reconstructing macroeconomics was written by Masanao Aoki, Hiroshi Yoshikawa.
When was Reconstructing macroeconomics published?
The publication date for this specific edition is November 6, 2006. The original work may have been published on a different date.