Access the full text.
Sign up today, get DeepDyve free for 14 days.
FA Hayek (1989)
The Pretence of knowledgeAmerican Economic Review, 79
MA Janssen, E Ostrom (2006)
Empirically based, agent-based modelsEcology and Society, 11
RD Opera, RE Wagner (2003)
Institutions, emergence, and macro theorizingThe Review of Austrian Economics, 16
RL Axtell (2001)
Zipf distribution of US firm sizesScience, 293
LH White (2008)
Did Hayek and Robbins deepen the great depression?Journal of Money, Credit and Banking, 40
L Mises (1960)
Epistemological problems of economics
RE Hall (1999)
Labor-market frictions and employment fluctuationsHandbook of Macroeconomics, 1
P Lewis (2012)
Emergent properties in the work of Friedrich HayekJournal of Economic Behavior & Organization, 82
D Acemoglu, VM Carvalho, A Ozdaglar, A Tahbaz-Salehi (2012)
The network origins of aggregate fluctuationsEconometrica, 80
A Kirman (1997)
The economy as an evolving networkJournal of Evolutionary Economics, 7
WD Lastrapes (2006)
Inflation and the distribution of relative prices: the role of productivity and money supply shocksJournal of Money, Credit and Banking, 38
JA Scheinkman, M Woodford (1994)
Self-organized criticality and economic fluctuationsThe American Economic Review, 84
S Alfarano, T Lux, F Wagner (2005)
Estimation of agent-based models: the case of an asymmetric herding modelComputational Economics, 26
J Geanakoplos, R Axtell, DJ Farmer, P Howitt, B Conlee, J Goldstein, M Hendrey, NM Palmer, C-Y Yang (2012)
Getting at systemic risk via an agent-based model of the housing marketThe American Economic Review, 102
FA Hayek (1943)
Scientism and the study of society: part IIEconomica, 10
D McFadden, PA Ruud (1994)
Estimation by simulationThe Review of Economics and Statistics, 76
RE Lucas (1976)
. Econometric policy evaluation: A critiqueIn Carnegie-Rochester Conference Series on Public Policy, 1
CM Macal, MJ North (2010)
Tutorial on agent-based modelling and simulationJournal of Simulation, 4
R Axelrod (1997)
Advancing the art of simulation in the social sciencesSimulating Social Phenomena, 456
RL Axtell (2007)
What economic agents do: how cognition and interaction lead to emergence and complexityThe Review of Austrian Economics, 20
FA Hayek (1937)
Economics and knowledgeEconomica, 4
NS Balke, MA Wynne (2007)
The relative price effects of monetary shocksJournal of Macroeconomics, 29
X Gabaix (2011)
The granular origins of aggregate fluctuationsEconometrica, 79
SA Kauffman, S Johnsen (1991)
Coevolution to the edge of chaos: coupled fitness landscapes, poised states, and coevolutionary avalanchesJournal of Theoretical Biology, 149
E Atalay, A Hortacsu, J Roberts, C Syverson (2011)
Network structure of productionProceedings of the National Academy of Sciences, 108
P Bak, K Chen, J Scheinkman, M Woodford (1993)
Aggregate fluctuations from independent sectoral shocks: self-organized criticality in a model of production and inventory dynamicsRicerche Economiche, 47
RW Garrison (1984)
Time and money: the universals of macroeconomic theorizingJournal of Macroeconomics, 6
RE Wagner (2012)
A macro economy as an ecology of plansJournal of Economic Behavior & Organization, 82
N Barr (1988)
The Phillips machineLSE Quarterly, 2
FA Hayek (1941)
The counter-revolution of scienceEconomica, 8
RE Wagner (1999)
Austrian cycle theory: saving the wheat while discarding the chaffReview of Austrian Economics, 12
E Samanidou, DS ElmarZschischang, T Lux (2007)
Agent-based models of financial marketsReports on Progress in Physics, 70
JA Schumpeter (1936)
Review of Keynes’s general theoryJournal of the American Statistical Association, 31
RJ Caballero (2010)
Macroeconomics after the crisis: time to deal with the pretense-ofKnowledge syndromeJournal of Economic Perspectives, 24
H Hotelling (1929)
Stability in competitionThe Economic Journal, 39
C Baumeister, P Liu, H Mumtaz (2013)
Changes in the effects of monetary policy on disaggregate price dynamicsJournal of Economic Dynamics and Control, 37
TJ Sargent, N Wallace (1976)
Rational expectations and the theory of economic policyJournal of Monetary Economics, 2
RE Wagner (2014)
Entangled political economy: A keynote addressAdvances in Austrian Economics, 16
R Axtell (2005)
The complexity of exchangeThe Economic Journal, 115
M Bjelland, B Fallick, J Haltiwanger, E McEntarfer (2011)
Employer-to-employer flows in the United States: estimates using linked employer-employee dataJournal of Business & Economic Statistics, 29
JR Crotty (1980)
Post-Keynesian economic theory: an overview and evaluationThe American Economic Review, 70
Austrian macroeconomists of the interwar period saw the economy as a complex adaptive system, in which macroeconomic variables emerge from the interaction between millions of purposefully acting agents. Recent advances in computation technology allow us to build empirically salient synthetic economies in silico, and thereby formalize many Austrian insights. We present a workhorse model with firms on an input-output network. Macroeconomic variables evolve through the interaction between micro-economic decisions. We use the model to explain an effect of monetary shocks on the price distribution and provide a sketch of other potential applications.
The Review of Austrian Economics – Springer Journals
Published: Jul 16, 2016
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.