Mauro GALLEGATI is Professor of Economics in the Management Department of the Polytechnic University of Marche. He holds a bachelor's degree in political science from Macerata University and a doctorate in economics from the University of Ancona.
Economics and finance
Towards a new approach to macroeconomic modelling
Current macroeconomic orthodoxy analyses collective actions in terms of the pursuit of individual interests. But this model neglects fundamental aspects such as the non-market behaviour of agents, or the interaction between financial markets and the real economy. I propose a new paradigm that considers the interaction of heterogeneous agents and respects the principle of consistency of stocks and cash flows. This approach could be crucial to understanding phenomena such as the emergence of financial agreements that sometimes lead to domino effects such as the 2008 crisis.