Publications by Longo M.
http://www.focproject.eu/publications/30
enStatistical ensembles for money and debt
http://www.focproject.eu/publications/statistical-ensembles-money-and-debt-0
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>We all build a statistical ensemble representation of two economic models describing respectively, in simplified terms, a payment system and a credit market. To this purpose we adopt the Boltzmannâ€“Gibbs distribution where the role of the Hamiltonian is taken by the total money supply (i.e. including money created from debt) of a set of interacting economic agents. As a result, we can read the main thermodynamic quantities in terms of monetary ones. In particular, we define for the credit market model a work term which is related to the impact of monetary policy on credit creation.</p></div></div></div>Tue, 16 Oct 2012 15:05:53 +000022862 at http://www.focproject.eu