Abstract
In this paper I discuss how to develop an inductive model-building approach which, in my opinion, could give novel perspectives to macroeconomic investigation. For this end I explain reasons and ways to cope with this task. My analysis refers to three different level of thinking under which I try to develop a line of enquiry. Firstly, I focus on Hyman Minsky’s economic thought which offers a novel inductive argument. Secondly, I discuss how this inductive argument fosters a different use of the experimental method in Economics. Concluding, I argue how agent based modeling could benefit from a Minskyan vision of Economics supported by the experimental method.
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Silvestri, M. (2015). Shaping an Inductive Macroeconomics. In: Omatu, S., et al. Distributed Computing and Artificial Intelligence, 12th International Conference. Advances in Intelligent Systems and Computing, vol 373. Springer, Cham. https://doi.org/10.1007/978-3-319-19638-1_47
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DOI: https://doi.org/10.1007/978-3-319-19638-1_47
Publisher Name: Springer, Cham
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