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基本説明
A YBP Library Services Current Bestselling Professional Title, July 2007. This book challenges the mainstream paradigm, which is based on the inter-temporal optimisation of welfare by individual agents. Starting with extremely simple stock flow consistent (SFC) models, the text describes a succession of increasingly complex models. Solutions of these models are used to illustrate ways in which whole economies evolve when shocked in various ways.
Full Description
This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.



