Corrado DiGuilmi and Laura Carvalho: Beyond Representative-Agent Macroeconomics

The video features Corrado and Laura discussing their ambitious grant project on macroeconomic instability and microeconomic financial fragility. Corrado explains the mean field interaction method, which aggregates economic agents to understand stochastic dynamics. Laura introduces the stock flow consistent model, which tracks economic flows and balance sheets. They discuss their collaboration, academic backgrounds, and interests in econophysics and structuralist macroeconomics.

What is the main focus of the grant project discussed by Corrado and Laura?

• Microeconomic instability and macroeconomic financial fragility

• Microeconomic stability and macroeconomic growth

• Macroeconomic instability and microeconomic financial fragility

• Macroeconomic stability and microeconomic growth

What is the mean field interaction method primarily used for in economics?

• To simulate economic crises

• To calculate national GDP

• To analyze economic systems using distributions of agents

• To predict individual agent behavior

How does the mean field interaction relate to the Minsky financial instability hypothesis?

• It contradicts Minsky's ideas

• It provides a framework to support Minsky's hypothesis

• It replaces Minsky's hypothesis

• It ignores Minsky's hypothesis

What does the stock flow consistent model aim to track?

• Flows between economic sectors and their balance sheets

• Individual spending habits

• International trade agreements

• Government policies

Why did the stock flow consistent model gain attention after the financial crisis?

• It was used by central banks worldwide

• It predicted the crisis accurately

• It captured the accumulation of debt in the US private sector

• It was developed by a famous economist

Where did Corrado and Laura first meet to discuss their research collaboration?

• University of Technology in Sydney

• Sao Paulo School of Economics

• Federal University of Rio

• New School for Social Research in New York

Who influenced Laura's approach to economic theory through social accounting?

• Lance Taylor

• Corrado

• A professor at the University of Ancona

• Her PhD advisor