Domenico Delli Gatti - Microfoundations for the Vision of Minsky

Domenico Delligatti, an economics professor, discusses his research on the economy as a network of financial and credit linkages. He emphasizes the importance of preanalytic vision, inspired by Schumpeter and Minsky, in shaping economic models. Delligatti explores agent-based modeling, highlighting its role in understanding complex economic interactions. He also discusses the significance of computational skills among young economists and his research journey, driven by emerging questions and interdisciplinary collaboration.

What is the primary focus of Domenico Delligatti's research?

• Environmental economics

• Preanalytic vision in economics

• Behavioral economics

• International trade

According to Delligatti, what is the economy primarily composed of?

• A network of financial and credit linkages

• A series of government regulations

• A set of consumer preferences

• A collection of independent firms

What concept did Hyman Minsky emphasize in his economic theories?

• The significance of technological innovation

• The impact of consumer behavior

• The importance of financial factors in business fluctuations

• The role of government intervention

What is a key feature of agent-based models in economics?

• They are based on historical data only

• They ignore financial factors

• They track the behavior of a wide range of agents

• They focus on a single representative agent

How have computational advancements impacted economic modeling?

• They have limited the scope of economic research

• They have reduced the need for theoretical frameworks

• They have allowed for more complex and detailed models

• They have made it more difficult to model economies

What is the first step in Delligatti's approach to economic modeling?

• Writing computer code

• Collecting data

• Developing a preanalytic vision

• Conducting experiments

Why is theoretical discipline important before coding in economic modeling?

• It provides a clear framework for the model

• It speeds up the coding process

• It ensures the code is error-free

• It eliminates the need for assumptions

What role does the younger generation play in economic modeling according to Delligatti?

• They avoid using computers

• They prefer traditional methods

• They focus solely on theoretical aspects

• They bring advanced computational skills

How does Delligatti describe his career trajectory?

• As a well-planned path

• As a strictly academic journey

• As a random walk influenced by research questions

• As a series of unrelated events

What does Delligatti consider important for generating new research questions?

• Avoiding collaboration with others

• Reading only newspapers

• Attending conferences and reading journals

• Focusing solely on past research