Pour une macroéconomie monétaire dynamique et complexe
The study of the mechanisms of flow and reflux of money in the economic system is one of the main tasks the monetary theory of production wants to achieve. For this reason, this theory constitutes a crucial support for an approach of macroeconomics based upon the interactions between the agents. How...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2014-12-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/10977 |
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| author | Pascal Seppecher |
| author_facet | Pascal Seppecher |
| author_sort | Pascal Seppecher |
| collection | DOAJ |
| description | The study of the mechanisms of flow and reflux of money in the economic system is one of the main tasks the monetary theory of production wants to achieve. For this reason, this theory constitutes a crucial support for an approach of macroeconomics based upon the interactions between the agents. However this theory leans on an abstract representation of time and of the sequence of the individual interactions. It leads to models that do not provide a satisfactory explanation for categories as essential as profit and interest. Agent-based modelling free us from the limits of the standard analytic models. We describe the construction of a trully dynamic model of a monetary economy, populated with numerous autonomous heterogenous agents, in direct and decentralized interaction, while complying with stock-flow consistency. Thanks to simulations, we observe the emergence of complex macroeconomic dynamics that show that this model, by providing a concrete content to the essential principles of the monetary theory of production, allows to overcome its contradictions. |
| format | Article |
| id | doaj-art-b7ee0ad178d5405b9a24a815a51236ed |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2014-12-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-b7ee0ad178d5405b9a24a815a51236ed2025-01-30T14:25:51ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962014-12-011610.4000/regulation.10977Pour une macroéconomie monétaire dynamique et complexePascal SeppecherThe study of the mechanisms of flow and reflux of money in the economic system is one of the main tasks the monetary theory of production wants to achieve. For this reason, this theory constitutes a crucial support for an approach of macroeconomics based upon the interactions between the agents. However this theory leans on an abstract representation of time and of the sequence of the individual interactions. It leads to models that do not provide a satisfactory explanation for categories as essential as profit and interest. Agent-based modelling free us from the limits of the standard analytic models. We describe the construction of a trully dynamic model of a monetary economy, populated with numerous autonomous heterogenous agents, in direct and decentralized interaction, while complying with stock-flow consistency. Thanks to simulations, we observe the emergence of complex macroeconomic dynamics that show that this model, by providing a concrete content to the essential principles of the monetary theory of production, allows to overcome its contradictions.https://journals.openedition.org/regulation/10977agent-based computational economicsendogenous moneystock-flow consistent modeling |
| spellingShingle | Pascal Seppecher Pour une macroéconomie monétaire dynamique et complexe Revue de la Régulation agent-based computational economics endogenous money stock-flow consistent modeling |
| title | Pour une macroéconomie monétaire dynamique et complexe |
| title_full | Pour une macroéconomie monétaire dynamique et complexe |
| title_fullStr | Pour une macroéconomie monétaire dynamique et complexe |
| title_full_unstemmed | Pour une macroéconomie monétaire dynamique et complexe |
| title_short | Pour une macroéconomie monétaire dynamique et complexe |
| title_sort | pour une macroeconomie monetaire dynamique et complexe |
| topic | agent-based computational economics endogenous money stock-flow consistent modeling |
| url | https://journals.openedition.org/regulation/10977 |
| work_keys_str_mv | AT pascalseppecher pourunemacroeconomiemonetairedynamiqueetcomplexe |