Russo, Alberto; Catalano, Michele; Gaffeo, Edoardo; … - In: Journal of Economic Behavior & Organization 64 (2007) 3-4, pp. 426-447
We present an agent-based computational model in which bounded rational firms and workers trade on fully decentralized markets for final goods and labor by means of random matching protocols. The model replicates several macroeconomic phenomena regularly observed in the data, with aggregate...