Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).

An active area of research within the social sciences concerns the underlying motivation for sharing scarce resources and engaging in other pro-social actions. We develop a theoretical framework that sheds light on the developmental origins of social preferences by providing mechanisms through...

The differences between mainstream and 'heterodox' theories and policies have become increasingly blurred, and this dynamic has also affected heterodox analyses of development. Being trapped by the primacy of the statistics-based methodological imperative, much heterodox thinking on development...

Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of a transactions-based economy with contracts...

In this paper, we employ generational accounting to analyse the inter-temporal stance of Austrian public finance in 1998 as well as the inter-temporal fiscal impact of immigration to Austria. Immigrants affect inter-temporal fiscal balance in essentially two ways. Firstly, they have a...

Incentive provision is a central question in modern economic theory. During the run up to the financial crisis, many banks attempted to encourage loan underwriting by giving out incentive packages to loan officers. Using a unique data set on small business loan officer compensation from a major...

I show how the influences of unskilled immigration, differential fertility between immigrants and the local indigenous population, and incentives for investment in human capital combine to predict the decline of the West. In particular, indigenous low-skilled workers lose from unskilled...

This article analyzes income redistribution in the inter-ethnic context. The model shows that redistribution in favor of less prosperous ethnic minorities raises fertility among the unskilled minority recipients, lowers fertility among the contributing local skilled, slows human capital...

This paper uses a novel empirical strategy to present empirical estimates of the effect of an exogenous shock to distribution on demand and accumulation for the US economy from 1973 to 2018. We use recursive vector autoregressions to identify the impact of shocks to the wage share. We impose...

The demand and distributive regimes are estimated from 62 countries around the world based on the Structuralist Goodwin model. The distributive regime appears to be Marxian/profit-squeeze and the demand exhibits a weekly profit-led regime. The profitled demand regime and the profit-squeeze...