Volatility clustering and fat tails are prominently observed in financial markets. Here, we analyze the underlying mechanisms of three agent-based models explaining these stylized facts in terms of market instabilities and compare them on empirical grounds. To this end, we first develop a...

"The European economic crisis has been ongoing since 2008 and while austerity has spread over the continent is has failed to revive economies. The media have played an important ideological role in presenting the policies of economic and political elites in a favourable light, even if the...