Federico Morelli soutiendra sa thèse intitulée "Crises propagation and behavioural effects in multi agents self-reflexive real business cycle models".
Cette thèse, préparée au LPTMC, sera soutenue le 7 décembre 2021, à 14h, dans la salle de conférences de l'INSP, couloir 22-23, salle 317.
Abstract : The Global Financial Crisis of 2008 left was also a crisis for macroeconomic models. On the one hand, orthodox economists persist in using the skeleton of classical models, while on the other hand, various groups of heterodoxes have proposed different ways to change the foundations of Economics. My research aims to bridge the gap between Neo-classical Economics and complexity Economics using methods and techniques from statistical physics.
Beginning with standard economic models, I study the addition of a self-reflexive feedback impacting the confidence of individual economic agents. This induces large output swings despite only minor variations in economic conditions. Within this framework, economic crises propagate endogenously and are amplified by interactions. Later on, I enrich the previous framework by taking into account heterogeneities, studying how economic recessions propagate through different strata of society.
In the last part of this work, I present a behavioural economic model where the stability of the economy is jeopardised by the lack of investments in risky markets.
Beginning with standard economic models, I study the addition of a self-reflexive feedback impacting the confidence of individual economic agents. This induces large output swings despite only minor variations in economic conditions. Within this framework, economic crises propagate endogenously and are amplified by interactions. Later on, I enrich the previous framework by taking into account heterogeneities, studying how economic recessions propagate through different strata of society.
In the last part of this work, I present a behavioural economic model where the stability of the economy is jeopardised by the lack of investments in risky markets.