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SUMMARY:Jose Moran (University of Oxford)
DTSTART:20210216T153000Z
DTEND:20210216T163000Z
DTSTAMP:20260404T095900Z
UID:OxfordRMT/14
DESCRIPTION:Title: <a href="https://researchseminars.org/talk/OxfordRMT/14
 /">Critically stable network economies</a>\nby Jose Moran (University of O
 xford) as part of Oxford Random Matrix Theory Seminars\n\n\nAbstract\nWill
  a large economy be stable? In this talk\, I will present a model for a ne
 twork economy where firms' productions are interdependent\, and study the 
 conditions under which such input-output networks admit a competitive econ
 omic equilibrium\, where markets clear and profits are zero. Insights from
  random matrix theory allow to understand some of the emergent properties 
 of this equilibrium and to provide a classification for the different type
 s of crises it can be subject to. After this\, I will endow the model with
  dynamics\, and present results with strong links to generalised Lotka-Vol
 terra models in theoretical ecology\, where inter-species interactions are
  modelled with random matrices and where the system naturally self-organis
 es into a critical state. In both cases\, the stationary points must consi
 st of positive species populations/prices/outputs. Building on these ideas
 \, I will show the key concepts behind an economic agent-based model that 
 can exhibit convergence to equilibrium\, limit cycles and chaotic dynamics
 \, as well as a phase of spontaneous crises whose origin can be understood
  using "semi-linear" dynamics.\n
LOCATION:https://researchseminars.org/talk/OxfordRMT/14/
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