This article describes a simulated monetary macro model with different types of interacting agents. As such, it is assigned to the field of agent-based computational economics (ACE), where agents become virtual objects in a computer simulation. The ACE model core with labor market and goods...

The present paper reassesses the role of monetary conservatism in a setting with nominal government debt and endogenous fiscal policy. We assume that macroeconomic policies are chosen by monetary and fiscal policy makers who interact repeatedly but cannot commit to future actions. The real level...

We consider the properties of two monetary policy rules ("strict inflation targeting", "constant money growth rule") in an intertemporal equilibrium model with flexible prices in which monetary policy is "active", while fiscal policy is "passive". Specifically, we assume that the fiscal agent...