Current framework of microeconomics is static, self-centered optimization, ignoring the Smith theorem, i.e. the division of labor is limited by market extent. Equilibrium economics fails to.understand persistent cycles in macroeconomics, over-investment and financial crisis in finance theory. We has developed dynamical model of industry competition, which integrates the ideas of the market extent by Adam Smith, Entreprunership by Schumpeter, and over-investment by Austrian.school. Our model provides an unified theory for instabilities in macro economies and financial markets, including product cycles, long technology waves, excess capacity, mass psychology,growth trends, and persistent cycles. Neo-classical synthesis emphasize the role of insufficient demand in market disequilibrium. We find out that over-investment for competing market-extent is the fundamental cause of business cycles and financial crisis. Our work has paved the foundation to economic physics.
研究宏观处于复杂经济周期波动的大环境下微观经济的非线性动力学行为。理论模型包括经济周期波动对竞争模型的影响,外来冲击下多稳态的跃迁行为,非高斯噪声下的选择不确定性,和企业现金流引发的周转危机等,以了解观察到的经济周期波动影响下的企业和居民行为。
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数据更新时间:2023-05-31
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