Macroeconomic policy analysis is a challenge for agent-based models because these types of model are generally much elaborated on the specific market levels for partial (micro) markets, but have been of limited use for macroeconomic policy issues due to calibration and “model closure”...

In order to analyze successful strategies for economic policy in a global environment both international interdependencies and the strategic behavior of “global players†must be considered. We use a global model of the world economy (the MSG2 Model) to show the effects of dynamic...

Sustainability of public deficit and debt in the long run has received much attention in the international political agenda. This paper analyses whether Austrian fiscal policies have been sustainable during the last five decades. Tests indicate that Austrian fiscal policies were sustainable from...