One of the major problems of macroeconomic theory is the way in
which the people exchange goods in decentralized market economies.
There are major disagreements among macroeconomists regarding tools
to influence required outcomes. Since the mainstream efficient
market theory fails to provide an internal coherent framework,
there is a need for an alternative theory. The book provides an
innovative approach for the analysis of agent based models,
populated by the heterogeneous and interacting agents in the field
of financial fragility. The text is divided in two parts; the first
presents analytical developments of stochastic aggregation and
macro-dynamics inference methods. The second part introduces
macroeconomic models of financial fragility for complex systems
populated by heterogeneous and interacting agents. The concepts of
financial fragility and macroeconomic dynamics are explained in
detail in separate chapters. The statistical physics approach is
applied to explain theories of macroeconomic modelling and
inference.
General
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