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- W2128091522 abstract "Since the “closure debate” of the 1980s it is well known that comparative static derivatives in analytical macro models are highly sensitive to the closure rule selected. This led Ke ynesians to conclude that Keynesian closures were superior to those favored b y the orthodoxy and vice versa . It is argued that with the advent of agent-based or multi-agent systems, the closure debate is superseded. While el ements of both Keynesian and neoclassical models survive the trans ition to the more synthetic environment, an agent-based approach eliminates the need for drastic simplification that was at the root of the debate from the beginning." @default.
- W2128091522 created "2016-06-24" @default.
- W2128091522 creator A5056228546 @default.
- W2128091522 date "2008-08-25" @default.
- W2128091522 modified "2023-09-23" @default.
- W2128091522 title "Keynesian and Neoclassical Closures in an Agent-Based Context" @default.
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