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題名 Interactions in the New Keynesian DSGE Models: The Boltzmann–Gibbs Machine and Social Networks Approach
作者 Chang,Chia-Ling;Chen,Shu-Heng
貢獻者 政大經濟系
關鍵詞 New Keynesian DSGE models;networks-based ant model;Boltzmann-Gibbs distribution
日期 2012-07
上傳時間 17-Sep-2013 16:13:11 (UTC+8)
摘要 The Boltzmann–Gibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the Boltzmann–Gibbs distribution can be directly applied, without considering the underlying social network structure more seriously, even though the social network structure is an important factor of social interaction. Therefore, this paper proposes two kinds of agent-based DSGE models. The first one belongs to mesoscopic modeling in formulating the social interaction with the Boltzmann–Gibbs machine, and the other one belongs to microscopic modeling in that it is augmented by the network-based ant machine. By comparing the population dynamics generated by those different agent-based DSGE models, we find that the Boltzmann–Gibbs machine offers a good approximation of herding behavior. However, it is difficult to envisage the population dynamics produced by the Boltzmann–Gibbs machine and by the network-based ant machine as having the same distribution, particularly in popular empirical network structures such as small world networks and scale-free networks. Thus, the social interaction behavior may not be replaced by the Boltzmann–Gibbs distribution.
關聯 Economics, 26(6)
資料類型 article
dc.contributor 政大經濟系en_US
dc.creator (作者) Chang,Chia-Ling;Chen,Shu-Hengen_US
dc.date (日期) 2012-07en_US
dc.date.accessioned 17-Sep-2013 16:13:11 (UTC+8)-
dc.date.available 17-Sep-2013 16:13:11 (UTC+8)-
dc.date.issued (上傳時間) 17-Sep-2013 16:13:11 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/61082-
dc.description.abstract (摘要) The Boltzmann–Gibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the Boltzmann–Gibbs distribution can be directly applied, without considering the underlying social network structure more seriously, even though the social network structure is an important factor of social interaction. Therefore, this paper proposes two kinds of agent-based DSGE models. The first one belongs to mesoscopic modeling in formulating the social interaction with the Boltzmann–Gibbs machine, and the other one belongs to microscopic modeling in that it is augmented by the network-based ant machine. By comparing the population dynamics generated by those different agent-based DSGE models, we find that the Boltzmann–Gibbs machine offers a good approximation of herding behavior. However, it is difficult to envisage the population dynamics produced by the Boltzmann–Gibbs machine and by the network-based ant machine as having the same distribution, particularly in popular empirical network structures such as small world networks and scale-free networks. Thus, the social interaction behavior may not be replaced by the Boltzmann–Gibbs distribution.en_US
dc.format.extent 1091026 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.relation (關聯) Economics, 26(6)en_US
dc.subject (關鍵詞) New Keynesian DSGE models;networks-based ant model;Boltzmann-Gibbs distributionen_US
dc.title (題名) Interactions in the New Keynesian DSGE Models: The Boltzmann–Gibbs Machine and Social Networks Approachen_US
dc.type (資料類型) articleen