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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.
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Macroeconomics from the Bottom-up, Domenico Delli Gatti, Saul Desiderio
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- Released
- 2013
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- (Paperback)
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