Getting Started: The Aggregation Conundrums and Basic Toolkits of Agent Based Modeling

  • Ermanno Catullo
  • Antonio Palestrini
  • Gabriele Tedeschi
Chapter
Part of the New Economic Windows book series (NEW)

Abstract

From the very beginning macroeconomics analysis tried to understand aggregate relationships (GDP, Consumption, Investments, etc.). The most famous one is the Keynesian relation between aggregate consumption at time t, \(C_t\) and aggregate income, \(Y_t\)
$$\begin{aligned} C_t = F(Y_t) = \bar{C} + c Y_t \end{aligned}$$
where \(\bar{C}\) is the autonomous component of consumption and c is the marginal propensity to consume.

Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  • Ermanno Catullo
    • 1
  • Antonio Palestrini
    • 1
  • Gabriele Tedeschi
    • 2
  1. 1.Dipartimento di Scienze Economiche e SocialiUniversità Politecnica delle MarcheAnconaItaly
  2. 2.Departament d’EconomiaUniversitat Jaume I de CastellonCastellónSpain

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