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The Intrinsic Limits of Modern Economic Theory: The Emperor Has No Clothes

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Cited by:

  1. Gallegati, Mauro & Kirman, Alan, 2019. "20 years of WEHIA: A journey in search of a safer road," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 5-14.
  2. Kemp-Benedict, Eric, 2013. "Material needs and aggregate demand," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 44(C), pages 16-26.
  3. Sean Crockett, 2013. "Price Dynamics In General Equilibrium Experiments," Journal of Economic Surveys, Wiley Blackwell, vol. 27(3), pages 421-438, July.
  4. Giorgio Fagiolo & Paul Windrum & Alessio Moneta, 2006. "Empirical Validation of Agent Based Models: A Critical Survey," LEM Papers Series 2006/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  5. Kemp-Benedict, Eric, 2013. "Resource Return on Investment under Markup Pricing," MPRA Paper 49154, University Library of Munich, Germany.
  6. David Tucket & Antoine Mandel & Diana Mangalagiu & Allen Abramson & Jochen Hinkel & Konstantinos Katsikopoulos & Alan Kirman & Thierry Malleret & Igor Mozetic & Paul Ormerod & Robert Elliot Smith & To, 2015. "Uncertainty, Decision Science, and Policy Making: A Manifesto for a Research Agenda," SciencePo Working papers Main hal-02057279, HAL.
  7. Enrico Sergio Levrero, 2021. "Estimates of the Natural Rate of Interest and the Stance of Monetary Policies: A Critical Assessment," International Journal of Political Economy, Taylor & Francis Journals, vol. 50(1), pages 5-27, February.
  8. Erlingsson, Einar Jon & Teglio, Andrea & Cincotti, Silvano & Stefansson, Hlynur & Sturlusson, Jon Thor & Raberto, Marco, 2014. "Housing market bubbles and business cycles in an agent-based credit economy," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-42.
  9. Magda Fontana, 2006. "Computer simulations, mathematics and economics," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 53(1), pages 96-123, March.
  10. G. Dosi, 2012. "Economic Coordination and Dynamics: Some Elements of an Alternative “Evolutionary” Paradigm," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 12.
  11. Gael Giraud & Isabelle Maret, 2001. "Behavioral Heterogeneity in Large Economies," Working Papers of BETA 2001-08, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  12. Geoffrey M Hodgson, 2023. "How stable routines can empower varied behaviors: defining routines as organizational capacities," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 32(6), pages 1319-1332.
  13. Bresser-Pereira, Luiz Carlos & Lima, Gilberto Tadeu, 1996. "The relative autonomy of macroeconomics: a methodological approach," Textos para discussão 49, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
  14. Matthieu Renault, 2020. "Theory to the Rescue of Large-scale Models: Edmond Malinvaud's Alternative View on the Search for Microfoundations," GREDEG Working Papers 2020-27, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, revised Apr 2021.
  15. Maarten C.W. Janssen, 2006. "Microfoundations," Tinbergen Institute Discussion Papers 06-041/1, Tinbergen Institute.
  16. Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2009. "The microfoundations of business cycles: an evolutionary, multi-agent model," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 161-180, Springer.
  17. repec:spo:wpmain:info:hdl:2441/dcditnq6282sbu1u151qe5p7f is not listed on IDEAS
  18. Jacek STROJNY & Jakub PIECUCH, 2017. "The land use structure of agricultural holdings in the Central and East European Countries and its evolution," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 63(1), pages 13-23.
  19. Arne Heise, 2017. "Walras' Law in the Context of Pre-Analytic Visions," Economic Thought, World Economics Association, vol. 6(1), pages 83-96, March.
  20. Giorgio Fagiolo & Andrea Roventini, 2017. "Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 20(1), pages 1-1.
  21. Giovanni Dosi & Andrea Roventini, 2019. "La solitudine dell'agente rappresentativo: eterogeneità e interazione per una nuova macroeconomia (The solitude of the representative agant: Heterogeneity and interaction for a new macroeconomics)," Moneta e Credito, Economia civile, vol. 72(287), pages 249-258.
  22. Giorgio Fagiolo & Andrea Roventini, 2012. "Macroeconomic Policy in DSGE and Agent-Based Models," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 67-116.
  23. repec:spo:wpmain:info:hdl:2441/20d1ncsepb9ssq3b3v4s6nbc41 is not listed on IDEAS
  24. Kevin Maréchal & Hélène Aubaret-Joachain & Jean-Paul Ledant, 2008. "The influence of Economics on agricultural systems: an evolutionary and ecological perspective," Working Papers CEB 08-028.RS, ULB -- Universite Libre de Bruxelles.
  25. Giraud, Gaël & Grasselli, Matheus, 2021. "Household debt: The missing link between inequality and secular stagnation," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 901-927.
  26. John Hatch & Colin Rogers, 1997. "Distinguished Fellow of the Economic Society of Australia, 1996: Professor Emeritus Geoff Harcourt," The Economic Record, The Economic Society of Australia, vol. 73(221), pages 97-100, June.
  27. Cavalieri, Duccio, 2015. "Structural interdependence in monetary economics: theoretical assessment and policy implications," MPRA Paper 65528, University Library of Munich, Germany.
  28. Horst Hanusch & Andreas Pyka, 2007. "Principles of Neo-Schumpeterian Economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(2), pages 275-289, March.
  29. Vernon L. Smith & Sabiou M. Inoua, 2019. "Classical Economics: Lost and Found," Working Papers 19-15, Chapman University, Economic Science Institute.
  30. Edoardo Gaffeo & Domenico Delli Gatti & Saul Desiderio & Mauro Gallegati, 2008. "Adaptive Microfoundations for Emergent Macroeconomics," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 34(4), pages 441-463.
  31. Ebrahim Hosseini Nasab, 2006. "Methodology of Economics: A Survey of Matters and Methods," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 11(1), pages 1-38, winter.
  32. G. Fagiolo & A. Roventini, 2009. "On the Scientific Status of Economic Policy: A Tale of Alternative Paradigms," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
  33. Schwarz, Christian & Stroinski, Uwe, 2009. "Is there a Walrasian Equilibrium in Exchange Markets with Endowment Effect?," Ruhr Economic Papers 82, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
  34. Giovanni Dosi & Andrea Roventini, 2019. "More is different ... and complex! the case for agent-based macroeconomics," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 1-37, March.
  35. Nelissen, J. H. M., 1991. "Household and education projections by means of a microsimulation model," Economic Modelling, Elsevier, vol. 8(4), pages 480-511, October.
  36. Steve Keen, 2019. "Economics: What to Do About an Unreformable Discipline? الاقتصاد: ماذا نفعل لعلم غير قابل للإصلاح؟," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 32(2), pages 109-117, January.
  37. Guerini, Mattia & Napoletano, Mauro & Roventini, Andrea, 2018. "No man is an Island: The impact of heterogeneity and local interactions on macroeconomic dynamics," Economic Modelling, Elsevier, vol. 68(C), pages 82-95.
  38. Crockett, Sean & Spear, Stephen & Sunder, Shyam, 2008. "Learning competitive equilibrium," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 651-671, July.
  39. repec:zbw:rwirep:0082 is not listed on IDEAS
  40. Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, University Library of Munich, Germany.
  41. Donald W. Katzner, 2004. "The Current Non-Status of General Equilibrium Theory," UMASS Amherst Economics Working Papers 2004-10, University of Massachusetts Amherst, Department of Economics, revised Aug 2005.
  42. Delfino, Alexia & Marengo, Luigi & Ploner, Matteo, 2016. "I did it your way. An experimental investigation of peer effects in investment choices," Journal of Economic Psychology, Elsevier, vol. 54(C), pages 113-123.
  43. repec:hal:pseose:hal-02057279 is not listed on IDEAS
  44. Amitava Krishna Dutt & Peter Skott, 2006. "Keynesian Theory and the AD-AS Framework: A Reconsideration," Contributions to Economic Analysis, in: Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels, pages 149-172, Emerald Group Publishing Limited.
  45. Daniel Dufourt, 1993. "L'économie politique," Post-Print halshs-01273102, HAL.
  46. Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2005. "Animal Spirits, Lumpy Investment, and Endogenous Business Cycles," LEM Papers Series 2005/04, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  47. Mirowski, Philip, 1995. "Three ways to think about testing in econometrics," Journal of Econometrics, Elsevier, vol. 67(1), pages 25-46, May.
  48. A. Pyka & G. Fagiolo, 2007. "Agent-based Modelling: A Methodology for Neo-Schumpetarian Economics," Chapters, in: Horst Hanusch & Andreas Pyka (ed.), Elgar Companion to Neo-Schumpeterian Economics, chapter 29, Edward Elgar Publishing.
  49. Fiorenza BELUSSI & Luciano PILOTTI, 2006. "Eterogeneità delle imprese e varietà dei modelli organizzativi. Conoscenze, risorse, relazioni, e istituzioni: verso una prospettiva integrata della teoria dell’impresa," Departmental Working Papers 2006-27, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  50. Massimo Cingolani, 2008. "Full Employment as a Possible Objective for EU Policy I. A Perspective From the Point of View of The Monetary Circuit," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(1), pages 89-114, March.
  51. Elke Muchlinski, 2005. "The Lucas Critique and Keynes Response.Considering the History of Macroeconomics," Macroeconomics 0503019, University Library of Munich, Germany.
  52. Marchionatti, Roberto & Sella, Lisa, 2015. "Is Neo-Walrasian Macroeconomics a Dead End?," CESMEP Working Papers 201502, University of Turin.
  53. Stephen Keen & Timothy M. Lenton & Antoine Godin & Devrim Yilmaz & Matheus Grasselli & Timothy J. Garrett, 2021. "Economists' erroneous estimates of damages from climate change," Papers 2108.07847, arXiv.org.
  54. Kevin P. Gallagher & Frank Ackerman & Luke Ney, "undated". "Economic Analysis in Environmental Reviews of Trade Agreements: Assessing the North American Experience," GDAE Working Papers 02-01, GDAE, Tufts University.
  55. Pirgmaier, Elke, 2017. "The Neoclassical Trojan Horse of Steady-State Economics," Ecological Economics, Elsevier, vol. 133(C), pages 52-61.
  56. Yoshinori Shiozawa, 2020. "A new framework for analyzing technological change," Journal of Evolutionary Economics, Springer, vol. 30(4), pages 989-1034, September.
  57. Frank Ackerman, 2001. "Still dead after all these years: interpreting the failure of general equilibrium theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 9(2), pages 119-139.
  58. Sabiou M. Inoua & Vernon L. Smith, 2020. "Adam Smith’s Theory of Value: A Reappraisal of Classical Price Discovery," Working Papers 20-10, Chapman University, Economic Science Institute.
  59. Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2006. "An Evolutionary Model of Endogenous Business Cycles," Computational Economics, Springer;Society for Computational Economics, vol. 27(1), pages 3-34, February.
  60. Jaime Lozano, 1999. "Economía institucional y ciencia económica," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 1(1), pages 99-128, July-dece.
  61. Pierangelo Garegnani, 2005. "Further On Capital And Intertemporal Equilibria: A Rejoinder To Mandler," Metroeconomica, Wiley Blackwell, vol. 56(4), pages 495-502, November.
  62. Kakarot-Handtke, Egmont, 2012. "The rhetoric of failure: a hyper-dialog about method in economics and how to get things going," MPRA Paper 43276, University Library of Munich, Germany.
  63. Kakarot-Handtke, Egmont, 2012. "General formal foundations of the virtuous deficit–profit symmetry and the vicious debt deflation," MPRA Paper 42912, University Library of Munich, Germany.
  64. D. Wade Hands, 2012. "The Rise and Fall of Walrasian Microeconomics: The Keynesian Effect," Chapters, in: Microfoundations Reconsidered, chapter 3, Edward Elgar Publishing.
  65. Guerini, Mattia & Moneta, Alessio, 2017. "A method for agent-based models validation," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 125-141.
  66. repec:hal:spmain:info:hdl:2441/dcditnq6282sbu1u151qe5p7f is not listed on IDEAS
  67. Eric Kemp-Benedict, 2012. "General Equilibrium as a Topological Field Theory," Papers 1209.1705, arXiv.org.
  68. R. Aversi & G. Dosi & G. Fagiolo & M. Meacci & C. Olivetti, 1997. "Demand Dynamics With Socially Evolving Preferences," Working Papers ir97081, International Institute for Applied Systems Analysis.
  69. Jennifer L. Castle & Jurgen A. Doornik & David F. Hendry & Ragnar Nymoen, 2014. "Misspecification Testing: Non-Invariance of Expectations Models of Inflation," Econometric Reviews, Taylor & Francis Journals, vol. 33(5-6), pages 553-574, August.
  70. Silvano Cincotti, 2021. "Facing the complexity of the economy: an opportunity for the new alliance between economics and engineering," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 48(4), pages 581-588, December.
  71. Christian Schwarz & Uwe Stroinski, 2009. "Is there a Walrasian Equilibrium in Exchange Markets with Endowment Effect?," Ruhr Economic Papers 0082, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  72. Donald Gillies, 2012. "Economics and Research Assessment Systems," Economic Thought, World Economics Association, vol. 1(1), pages 1-2, July.
  73. Tongkui Yu & Shu-Heng Chen, 2021. "Realizable Utility Maximization as a Mechanism for the Stability of Competitive General Equilibrium in a Scarf Economy," Computational Economics, Springer;Society for Computational Economics, vol. 58(1), pages 133-167, June.
  74. Tony Lawson, 2014. "Modelación matemática e ideología en la economía académica," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 16(30), pages 25-51, January-J.
  75. Stephen Graham Saunders, 2008. "Toward Bridging The Gap Between Theory And Empirical Reality," South African Journal of Economics, Economic Society of South Africa, vol. 76(4), pages 738-748, December.
  76. repec:hal:spmain:info:hdl:2441/20d1ncsepb9ssq3b3v4s6nbc41 is not listed on IDEAS
  77. Giorgio Fagiolo & Andrea Roventini, 2016. "Macroeconomic Policy in DGSE and Agent-Based Models Redux," Working Papers hal-03459348, HAL.
  78. repec:spo:wpmain:info:hdl:2441/28ldm6et9r9pbak4qpf3imo9bj is not listed on IDEAS
  79. John S.L. McCombie & Ioana Negru, 2014. "On economic paradigms, rhetoric and the micro-foundations of macroeconomics," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(1), pages 53-66, April.
  80. Simone Landini & Mauro Gallegati & J. Barkley Rosser, 2020. "Consistency and incompleteness in general equilibrium theory," Journal of Evolutionary Economics, Springer, vol. 30(1), pages 205-230, January.
  81. Nicolas Petit & Thibault Schrepel, 2023. "Complexity-minded antitrust," Journal of Evolutionary Economics, Springer, vol. 33(2), pages 541-570, April.
  82. J. Barkley Rosser Jr & Richard P.F. Holt & David Colander, 2010. "European Economics at a Crossroads," Books, Edward Elgar Publishing, number 13585.
  83. Oriol Valles Codina, 2020. "Economic Production as Life: A Classical Approach to Computational Social Science," Working Papers 2001, New School for Social Research, Department of Economics.
  84. Sabiou M. Inoua & Vernon L. Smith, 2020. "The Classical Theory of Supply and Demand," Working Papers 20-11, Chapman University, Economic Science Institute.
  85. Stephanie Blankenburg, 2011. "On Sraffa, post-Keynesian theories of pricing and capitalist competition: Some observations," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 8(1), pages 183-200.
  86. Sgouris Sgouridis & Abdulla Kaya & Denes Csala, 2016. "Switching Economics for Physics and the Carbon Price Inflation: Problems in Integrated Assessment Models and their Implications," Papers 1603.06196, arXiv.org.
  87. Hafner, Sarah & Anger-Kraavi, Annela & Monasterolo, Irene & Jones, Aled, 2020. "Emergence of New Economics Energy Transition Models: A Review," Ecological Economics, Elsevier, vol. 177(C).
  88. Kemp-Benedict Eric, 2017. "Dynamic Stability of Post-Keynesian Pricing," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 17(2), pages 1-12, June.
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  90. White, Graham, 2012. "The New Keynesian view of aggregate demand: some reflections from a Sraffian standpoint," Working Papers 2012-15, University of Sydney, School of Economics.
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  92. Li-Xin Wang, 2014. "Dynamical Models of Stock Prices Based on Technical Trading Rules Part II: Analysis of the Models," Papers 1401.1891, arXiv.org, revised Feb 2016.
  93. Giovanni Dosi, 2024. "Why is economics the only discipline with so many curves going up and down? There is an alternative," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 14(1), pages 1-34, March.
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