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Breaking Bad : Supply Chain Disruptions in a Streamlined Agent Based Model
Delli Gatti, Domenico; Grugni, Elisa - 2021
-stream firms. We consider two scenarios. In the first one, because of the lockdown all the upstream firms are forced to cut … production. This generates a sizable down-turn during the lockdown due to the indirect effects of the shock (network based … financial accelerator). In the second scenario, only those upstream firms located in the “red zone” are forced to contract …
Persistent link: https://www.econbiz.de/10013231965
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Labor Market Effects of Global Supply Chain Disruptions
Ulate, Mauricio; Zarate, Roman D.; Vasquez, Jose P. - 2023
We examine the labor market consequences of recent global supply chain disruptions induced by COVID-19. Specifically, we consider a temporary increase in international trade costs similar to the one observed during the pandemic and analyze its effects on labor market outcomes using a...
Persistent link: https://www.econbiz.de/10014259687
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The Financial Accelerator in the Euro Area : New Evidence Using a Mixture VAR Model
Bennani, Hamza; Neuenkirch, Matthias - 2021
, this provides further evidence for a financial accelerator in the euro area. Finally, the detrimental effect of credit …
Persistent link: https://www.econbiz.de/10013314851
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ABC : An Agent Based Exploration of the Macroeconomic Effects of COVID-19
Delli Gatti, Domenico; Reissl, Severin - 2021
lockdown scenario the model is able to closely reproduce the epidemiological dynamics of the first wave of the coronavirus … effective policy tools to alleviate the economic impact of the epidemic and the lockdown …
Persistent link: https://www.econbiz.de/10013314800
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Measuring the Economic Risk of COVID-19
Noy, Ilan - 2020
We measure the economic risk of COVID-19 at a geo-spatially detailed resolution. In addition to data about the current prevalence of confirmed cases, we use data from 2014-2018 and a conceptual disaster risk model to compute measures for exposure, vulnerability, and resilience of the local...
Persistent link: https://www.econbiz.de/10012830356
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Supply Chain Reliability and International Economic Growth : Impacts of Disruptions Like COVID-19
Goel, Rajeev K. - 2020
the challenges posed by the coronavirus crisis. This paper uses data over a recent decade for more than 130 nations to … growth, labor quality, are positive and in line with the extant literature. A simulation exercise discussed some supply chain …
Persistent link: https://www.econbiz.de/10012833727
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Rising to the Challenge : Bayesian Estimation and Forecasting Techniques for Macroeconomic Agent-Based Models
Delli Gatti, Domenico - 2019
. Second, we propose a method to forecast aggregate time series using data obtained from the simulation of an ABM. We apply our …
Persistent link: https://www.econbiz.de/10012860573
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Adaptive Agents May Be Smarter than You Think : Unbiasedness in Adaptive Expectations
Palestrini, Antonio; Gallegati, Mauro; Delli Gatti, Domenico - 2021
Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...
Persistent link: https://www.econbiz.de/10013217385
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Taxing Moral Agents
Muñoz Sobrado, Esteban - 2022
Experimental and empirical findings suggest that non-pecuniary motivations play a significant role as determinants of taxpayers’ decision to comply with the tax authority and shape their perceptions and assessment of the tax code. By contrast, the canonical optimal income taxation model...
Persistent link: https://www.econbiz.de/10014079642
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On the Optimal 'Lockdown' During an Epidemic
Gonzalez-Eiras, Martín - 2020
We embed a lockdown choice in a simplified epidemiological model and derive formulas for the optimal lockdown intensity … discovery, learning effects in the health care sector, and the severity of output losses due to a lockdown. In our baseline …
Persistent link: https://www.econbiz.de/10012835657