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\nDomenico Delli Gatti - Microfoundations for the Vision of Minsky\n

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\n\nPublisher:\n\nInstitute for New Economic Thinking\n\n\n
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\nDelli Gatti starts where his dissertation advisor, Hyman Minsky, left off. With tools from network theory and agent-based modeling, he simulates the economy as enormous web of credit relations. He says agent-based models can capture a...\nDelli Gatti starts where his dissertation advisor, Hyman Minsky, left off. With tools from network theory and agent-based modeling, he simulates the economy as enormous web of credit relations. He says agent-based models can capture a simple idea that traditional macro models could not: when a business fails to pay, its creditors may fail to pay -- that's interaction -- threatening to shake the entire web of credit relations. The microfoundations are a step beyond Minsky, the interaction is a step beyond the representative agent -- this is new economic thinking.\n
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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11:42
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Grade
Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nNew Economic Thinking\n\n
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Date
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2011
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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vision, computers, economy, banks
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Additional Tags

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delli gatti, inet, network theory, agent-based modeling, minsky, microfoundations, aggregate leverage, early 90s, financial factors, financial crisis, preanalytic vision, wide range, research questions, credit interlinkages, macro models, step forward, computer, step, agents, sophisticated, overtime, problem, relationship, bank, idea, firms, point, important, discipline, ideas, model
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Classroom Considerations

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Domenico Delli Gatti - Microfoundations for the Vision of Minsky\" href=\"/subscription/new\">\"Domenico\n\n
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