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All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. Its aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and bi

AA / International- internationaal --- 330.3 --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Thermodynamics. --- Thermodynamics --- Economics --- Physics --- Physical Sciences & Mathematics --- Economic aspects --- Scientific applications --- Economic aspects. --- Scientific applications. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Chemistry, Physical and theoretical --- Dynamics --- Mechanics --- Heat --- Heat-engines --- Quantum theory --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics

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There is probably no concept other than saving for which U.S. official agencies issue annual estimates that differ by more than a third, as they have done for net household saving, or for which reputable scholars claim that the correct measure is close to ten times the officially published one. Yet despite agreement among economists and policymakers on the importance of this measure, huge inconsistencies persist. Contributors to this volume investigate ways to improve aggregate and sectoral saving and investment estimates and analyze microdata from recent household wealth surveys. They provide analyses of National Income and Product Account (NIPA) and Flow-of-Funds measures and of saving and survey-based wealth estimates. Conceptual and methodological questions are discussed regarding long-term trends in the U.S. wealth inequality, age-wealth profiles, pensions and wealth distribution, and biases in inferences about life-cycle changes in saving and wealth. Some new assessments are offered for investment in human and nonhuman capital, the government contribution to national wealth, NIPA personal and corporate saving, and banking imputation.

National savings --- Gross national product --- 330.56 --- 330.3 --- Saving and investment --- Wealth --- Affluence --- Distribution of wealth --- Fortunes --- Riches --- Business --- Economics --- Finance --- Capital --- Money --- Property --- Well-being --- Accumulation, Capital --- Capital accumulation --- Capital formation --- Investment and saving --- Saving and thrift --- Supply-side economics --- Investments --- Nationaal inkomen. Volksinkomen. Gezinsinkomen. Vermogensstratificatie. Particuliere inkomens en bestedingen. Armoede. Honger --- Dynamiek der staatshuishouding. Economische bewegingen. Economische dynamica --- Saving and investment. --- Wealth. --- 330.3 Dynamiek der staatshuishouding. Economische bewegingen. Economische dynamica --- 330.56 Nationaal inkomen. Volksinkomen. Gezinsinkomen. Vermogensstratificatie. Particuliere inkomens en bestedingen. Armoede. Honger --- saving, investment, wealth, economics, economy, poverty, banking imputation, corporate, personal, nipa, government, capital, inequality, pensions, aging, flow of funds, latin america, estimates, national accounts, banks, finance, affluent, inheritance, gifts, intergenerational transfer, net worth, households, bias, accuracy, nonfiction.

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Using models, developed in one branch of science, to describe similar behaviors encountered in a different one, is the essence of a synergetic approach. A wide range of topics has been developed including Agent-based models, econophysics, socio-economic networks, information, bounded rationality and learning in economics, markets as complex adaptive systems - evolutionary economics, multi scale analysis and modeling, nonlinear dynamics and econometrics, physics of risk, statistical and probabilistic methods in economics and finance. This publication concentrates on process behavior of economic

Economics --- Decision making --- Mathematical models --- AA / International- internationaal --- 330.3 --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Economics -- Decision making -- Mathematical models. --- Business & Economics --- Economic Theory --- Mathematical models. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Nonlinear theories --- Economics, Mathematical --- E-books --- Mathematical economics --- Econometrics --- Mathematics --- Nonlinear problems --- Nonlinearity (Mathematics) --- Calculus --- Mathematical analysis --- Mathematical physics --- Methodology --- Decision making&delete& --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Economics - Decision making - Mathematical models

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In this 2007 book, the authors treat macroeconomic models as composed of large numbers of micro-units or agents of several types and explicitly discuss stochastic dynamic and combinatorial aspects of interactions among them. In mainstream macroeconomics sound microfoundations for macroeconomics have meant incorporating sophisticated intertemporal optimization by representative agents into models. Optimal growth theory, once meant to be normative, is now taught as a descriptive theory in mainstream macroeconomic courses. In neoclassical equilibria flexible prices led the economy to the state of full employment and marginal productivities are all equated. Professors Aoki and Yoshikawa contrariwise show that such equilibria are not possible in economies with a large number of agents of heterogeneous types. They employ a set of statistical dynamical tools via continuous-time Markov chains and statistical distributions of fractions of agents by types available in the new literature of combinatorial stochastic processes, to reconstruct macroeconomic models.

Macroeconomics --- 305.96 --- -339.0151923 --- Macro-economisch model van een of verschillende landen. --- Mathematical models --- 339.0151923 --- 305.970 --- 330.3 --- AA / International- internationaal --- Macro-economisch model van een of verschillende landen --- Algemeenheden: Autoregression and moving average representation. ARIMA. ARMAX. Lagrange multiplier. Wald. Function (mis) specification. Autocorrelation. Homoscedasticity. Heteroscedasticity. ARCH. GARCH. Integration and co-integration. Unit roots --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Mathematical models. --- Business, Economy and Management --- Economics --- Macroeconomics - Mathematical models

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In these three essays, Professor Granger explains the process of constructing and evaluating an empirical model. Drawing on a wide range of cases and vignettes from economics, finance, politics and environment economics, as well as from art, literature, and the entertainment industry, Professor Granger combines rigour with intuition to provide a unique and entertaining insight into one of the most important subjects in modern economics. Chapter 1 deals with Specification. The process of specifying a model is discussed using deforestation in the Amazon region of Brazil as an illustration. Chapter 2 considers Evaluation, and argues that insufficent evaluation is undertaken by economists, and that models should be evaluated in terms of the quality of their output. In Chapter 3, the question of how to evaluate forecasts is considered at several levels of increasing depth and using a more sophisticated, technical approach than in the earlier two chapters.

AA / International- internationaal --- 330.3 --- 304.0 --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Zuivere statistische analyse (algemene naslagwerken). Tijdreeksen. --- Econometrics - Evaluation. --- Business, Economy and Management --- Quantitative methods (economics) --- Econometric models. --- Economics --- Econometrics --- Economics, Mathematical --- Statistics --- Mathematical models --- Mathematical models. --- Evaluation. --- Modèles économétriques --- Economie politique --- Econométrie --- Modèles mathématiques --- Evaluation --- Econometric models --- Zuivere statistische analyse (algemene naslagwerken). Tijdreeksen --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Economics - Mathematical models.