Search Results - subject:"macroeconomics"

A behavioral heterogeneous agent New Keynesian model

Pfäuti, Oliver; Seyrich, Fabian - 2022 - Updated version, August 2022

We develop a New Keynesian model with household heterogeneity and bounded rationality in the form of cognitive discounting. The interaction of household heterogeneity and bounded rationality generates amplification of monetary and fiscal policy through indirect general equilibrium effects while...

Persistent link: https://www.econbiz.de/10013336069

Classical and Keynesian Models of Inequality and Stagnation

Rada, Codrina; Tavani, Daniele; von Arnim, Rudiger; … - 2022

This paper studies two formal models of long run growth with a medium-run distributive cycle, both of which feature causal links from the rise in inequality to a deterioration of long run macroeconomic performance. Both versions feature an endogenous income-capital ratio: one through the...

Persistent link: https://www.econbiz.de/10014243057

The evolution of Patinkin's interpretation of Keynes' principle of effective demand

Hartwig, Jochen - In: The European journal of the history of economic thought 29 (2022) 3, pp. 505-522

Persistent link: https://www.econbiz.de/10013286212

The theory of efficient growth

Van, Germinal G. - 2022

The objective of this paper is to propose an analytical framework to examine the foundations of the theory of efficient growth. The theory of efficient growth is a newly developed theory based on the principles of the neoclassical framework. It argues that an economy grows efficiently under two...

Persistent link: https://www.econbiz.de/10013193767

Energy Price Shocks and Stabilization Policies in a Multi-Agent Macroeconomic Model for the Euro Area

Turco, Enrico Maria; Bazzana, Davide; Rizzati, Massimiliano - 2022

Soaring energy prices since fall 2021 have prompted European governments to introduce policy measures to support households and businesses. In this paper, we employ the MATRIX model, a multi-sector and multi-agent macroeconomic model calibrated on the Euro Area, to analyze the economic and...

Persistent link: https://www.econbiz.de/10013491817

Financialisation and the potentials for a progressive equality-, sustainability- and domestic demand-led regime : a post-Keynesian simulation approach

Hein, Eckhard; Prante, Franz; Bramucci, Alessandro - 2022

MarxKeynes/Kalecki-Schumpeter approach to macroeconomics. Our approach in this paper, based on post …

Persistent link: https://www.econbiz.de/10013393481

Hysteresis and the New Consensus three-equation model : a Post-Keynesian amendment

Barbosa Filho, Nelson Holanda - In: Review of Keynesian economics 10 (2022) 1, pp. 109-122

Persistent link: https://www.econbiz.de/10013172455

Ecological macroeconomics : a methodological review

Saes, Beatriz Macchione; Romeiro, Ademar Ribeiro - In: Economia e sociedade : revista do Instituto de Economia … 28 (2019) 2, pp. 365-392

Persistent link: https://www.econbiz.de/10012212140

More is different ... and complex! : the case for agent-based macroeconomics

Dosi, Giovanni; Roventini, Andrea - 2019

This work nests the Agent-Based macroeconomic perspective into the earlier history of macroeconomics. We discuss how … for macroeconomics, showing the inadequacy of the predominant theoretical framework grounded on DSGE models. After … discussing the pathological fallacies of the DSGE-based approach, we claim that macroeconomics should consider the economy as a …

Persistent link: https://www.econbiz.de/10011961378

Supermultiplier models, demand stagnation, and monetary policy: Inevitable march to the lower bound for interest rates?

Fazzari, Steven M. - 2024

This article integrates monetary policy into a very simple dynamic supermultiplier model with an accommodating supply side. Results show that monetary policy guided by a conventional Taylor rule may stabilize an economy around the steady-state path of demand-led growth following temporary demand...

Persistent link: https://www.econbiz.de/10014546874