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Multi-agent, non-equilibrium, and network models of labour economics and financial contagion

Abstract:

The financial crisis of 2009 showed that the economy is not in equilibrium. That is, the economy is in a state where agents have incentives to modify their chosen actions. The recent COVID-19 pandemic has shown that the economy changes rapidly and that reaching an equilibrium can take years, if one is reached at all. However, assuming equilibrium has long formed the basis of many economic models. Although a non-equilibrium approach may seem better suited for answering economic policy quest...

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Division:
MPLS
Department:
Mathematical Institute
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Author

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Supervisor
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Supervisor
Type of award:
DPhil
Level of award:
Doctoral
Awarding institution:
University of Oxford

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