一个简单行为宏观经济模型中的突现不平等与内生动力
Emergent inequality and endogenous dynamics in a simple behavioral macroeconomic model
摘要：
标准的宏观经济模型假设家庭是理性的，因为他们是完美的效用最大化者，并根据使经济偏离稳态的冲击来解释经济动态。在这里，我们建立在一个标准的宏观经济模型中，一个单一的理性代表家庭作出储蓄决定多少消费或投资。在我们的模型中，家庭是近视的、有限理性的、嵌入社会网络中的异质代理人。每个家庭不时地通过复制其消费最高的邻居的储蓄率来更新其储蓄率。如果更新时间短，经济陷入贫困陷阱，但更新时间长，经济产出接近其最优值，我们观察到一个关键的过渡到一个经济不规则的内生振荡的经济产出，类似于一个经济周期。在这种制度下，家庭分为两类：储蓄率低的贫困家庭和储蓄率高的富裕家庭。因此，不平等和经济动态都是由于家庭决策不完善而自发产生的。我们在这里的工作支持一个替代方案的研究，替代效用最大化的行为接地决策。
英文摘要：
Standard macroeconomic models assume that households are rational in the sense that they are perfect utility maximizers, and explain economic dynamics in terms of shocks that drive the economy away from the stead-state. Here we build on a standard macroeconomic model in which a single rational representative household makes a savings decision of how much to consume or invest. In our model households are myopic boundedly rational heterogeneous agents embedded in a social network. From time to time each household updates its savings rate by copying the savings rate of its neighbor with the highest consumption. If the updating time is short, the economy is stuck in a poverty trap, but for longer updating times economic output approaches its optimal value, and we observe a critical transition to an economy with irregular endogenous oscillations in economic output, resembling a business cycle. In this regime households divide into two groups: Poor households with low savings rates and rich households with high savings rates. Thus inequality and economic dynamics both occur spontaneously as a consequence of imperfect household decision making. Our work here supports an alternative program of research that substitutes utility maximization for behaviorally grounded decision making.
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