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Approximate and almost-exact aggregation in dynamic stochastic heterogeneous-agent models
Reiter, Michael - 2010
systems and control theory, it is shown how to reduce the dimension of the state and the policy vector so that the reduced …
Persistent link: https://www.econbiz.de/10009732565
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The Role of (De-)Centralized Wage Setting for Industry Dynamics and Economic Growth : An Agent-Based Analysis with the Eurace Unibi Model
Dawid, Herbert - 2019
In this paper, we employ the agent-based macroeconomic Eurace@Unibi Model to study the economic implications of different degrees of de-centralization in the wage setting. Starting from a baseline scenario, corresponding to a high degree of unionization, in which wages are fully centralized and...
Persistent link: https://www.econbiz.de/10012871134
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Stabilization Policies and Long Term Growth : Policy Implications from an Agent-Based Macroeconomic Model
Harting, Philipp - 2015
Do fiscal stabilization policies affect the long-term growth of the economy? If so, are the long-term effects growth-enhancing or growth-reducing? These questions have again become relevant to the political and academic debate since governments have been forced to spend considerable funds for...
Persistent link: https://www.econbiz.de/10013020873
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An agent-based model of trickle-up growth and income inequality
Palagi, Elisa; Napoletano, Mauro; Roventini, Andrea; … - 2021
We build an agent-based model to study how coordination failures, credit constraints and unequal access to investment opportunities affect inequality and aggregate income dynamics. The economy is populated by households who can invest in alternative projects associated with different...
Persistent link: https://www.econbiz.de/10012584308
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An agent-based model of trickle-up growth and income inequality
Palagi, Elisa; Napoletano, Mauro; Roventini, Andrea; … - 2021
We build an agent-based model to study how coordination failures, credit constraints and unequal access to investment opportunities affect inequality and aggregate income dynamics. The economy is populated by households who can invest in alternative projects associated with different...
Persistent link: https://www.econbiz.de/10013220316
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Concentration, Stagnation and Inequality : An Agent-Based Approach
Turco, Enrico Maria; Terranova, Roberta - 2021
This paper presents a macroeconomic agent based model with endogenous innovation-driven growth and knowledge accumulation which aims to analyze the underlying causes of the recent increase in market concentration, by focusing on the interplay of technical change and market power, and the...
Persistent link: https://www.econbiz.de/10013220359
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Social institutions and economic inequality : modeling the onset of the Kuznets curve
Alvarez-Pereira, Brais; Bale, Catherine S. E.; Furtado, … - 2015
Theoretical models of the Kuznets Curve have been purely analytical with little contribution towards an understanding of the timing of the process and the presence of additional mechanisms affecting its timing. This paper proposes an agent-based version of Acemoglu and Robinson's model of the...
Persistent link: https://www.econbiz.de/10012057437
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What do aggregate saving rates (not) show?
Ponomarenko, Alexey; Ponomarenko, Alexey - 2018
The aggregate saving indicator does not directly reflect changes in individuals’ microeconomic behavior. From the official statistics’ point of view, households choose between spending, which generates additional income and consumption in the economy, and setting money aside, which does not....
Persistent link: https://www.econbiz.de/10011806421
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What do aggregate saving rates (not) show?
Ponomarenko, Alexey; Ponomarenko, Alexey - 2017
The aggregate saving indicator does not directly reflect changes in individuals' microeconomic behavior. From the official statistics' point of view, households choosebetween spending, which generates additional income and consumption in the economy, and setting money aside, which does not....
Persistent link: https://www.econbiz.de/10011751875
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Political competition and economic performance : theory and evidence from the United States
Besley, Timothy; Persson, Torsten; Sturm, Daniel - 2006 - First draft June 2005, this version November 2005
We formulate a model to explain why the lack of political competition may stifle economic performance and use the … political competition have quantitatively important effects on state income growth, state policies, and quality of Governors. By … our bottom-line estimate, the increase in political competition triggered by the Voting Rights Act raised long-run per …
Persistent link: https://www.econbiz.de/10010439365